HSB Business Economics Final Review #2

What is the effect on society of a falling growth rate in productivity?

A country's standard of living can be calculated by dividing the goods and services by the

Find the total hourly productivity of 2 employees each working 40 hours to produce 8000 items

When a company allows employees to have a say in improving customer satisfaction they are using

Transferring manufacturing or tasks to a company in another country is called

On a weekly average, Mary works 20 hours and fills 600 bags of groceries. Her productivity is

What is it called when one union stops work because another union at the company is on strike?

Relocating a business process to another country is called

To reduce the chance of investigations and orders to cease production, businesses should

The Internal Revenue Service (IRS) is responsible for

A country's balance of payments includes the balance of trade and

TQM stands for:

Which of the following is a fixed cost?

When a company decides to own production facilities in another country it is called

An expense function is E = 20.00q + 50,000. Find the total cost of producing 10,000 units

The cost of defect correction

When a country or company is the only source of a resource it is said to have a(n)

A tax on imported goods is

Which of the following is not a barrier to trade

When a country exports more than it imports it has a trade __________.

A tax system that taxes the wealthy at a lower tax rate than the poor is

Involving employees to improve production by using their suggestions & experience is

Breakeven analysis identifies the level of output where

Partnering with a company in another country to share costs and operation of business is called

What is it called when management prevents union employees from working during a labor dispute?

A tax system that taxes the wealthy at a higher rate than the poor is

A tax on the amount of money that a person or company earns is called

Which of the following is most likely to result from specialization of labor:

A tax system that taxes everyone at the same rate regardless on income is

What must businesses consider when setting product prices in foreign countires?

Breeding livestock, shipping, slaughtering, processing,  & packaging meat are examples of

Quality is defined by

Governments use tax revenue to

An expense equation is E = 45,500 + 14.32q What are the variable costs to produce one widget?

The lowest level of labor union organization is the

Hiring a company in another country to produce a product meeting specifications is called

Warranty claims, customer complaints, and costs of litigation are examples of __________ costs.

Costs of quality inspections, testing, test equipment, and labs are examples of ________ costs.

In which of the following occupations would employees be organized into craft/trade unions:

Sales taxes are an example of

Which of the following examples best exhibits a manager's job task with low depth and low scope

Why should productivity be measured?

When management & union leaders cannot reach an agreement, either one may call for a(n)

The use of robots in assembly-line work is a form of specialization involving

A tax on a specific commodity like gasoline or liquor is

A tax that is paid by the survivors of a person who has died is

One way for a business to increase productivity is to increase its

Which of the following is true of employees whose jobs have low depth: