Labor Market Trends - Review

A worker is also known as an

• employee

• employer

People that work for themselves are called:

• self employed

• self sufficient

• self earning

A worker who works for the whole working day and week, all year except for holidays is know as:

• full-time working

• part-time working

• shift pattern working

• zero hours contract

Within approximately 30 years (1870 - 1900) - Americans went mostly from . . .

• factory work to farmers

• using railroads to using boats

• farmers to mostly factory workers

• working outside the home to working inside the home

To improve their labor conditions, many industrial workers formed

• Trust
• Holding company
• Monopoly
• Unions

Why did it take so long for people to be able to have their own computer in their house?

• It was too expensive

• Nobody wanted one

• People would rather buy a car

• People used their cell phone instead

The transfering of work from a specific area of the company ( e.g. accounting, manufacturing) to an outside supplier, which can be done to a company that is located in the home country or anywhere else is called______.

• Offshoring

• Outsourcing

• Globalization

Define outsourcing.

• The process by which businesses or other organizations develop international influence or start operating on an international scale
• The action of making or manufacturing from components or raw materials, or the process of being so manufactured.
• A practice used by different companies to reduce costs by transferring portions of work to outside suppliers rather than completing it internally.

Which of the following is not correct about "outsourcing?"

• It involves a company hiring another country to do certain work activities.
• It can reduce labor costs.
• It increases costs of producing goods/ services.
• Outsourcing countries are often in developing companies.

Which of these is not a benefit of outsourcing jobs?

• Residents in other countries learn about a company’s product

• Workers in the UK. lose their jobs

• A company makes a larger profit because the cost of labour is lower.