E.20: Economic Institutions

What is a labor union?

• An organized association of workers formed to protect and further their rights and interests

• A group advocating for environmental conservation

• A company operating in several countries

• A business granted tax-exempt status by the IRS

What defines a multinational company?

• A business operating in one country only

• An association formed to protect workers' rights

• An enterprise operating in several countries but managed from one country

• An organization without the primary goal of making a profit

What is true about nonprofit organizations?

• They are primarily focused on making a profit

• They operate in multiple countries

• Donations made to them are typically tax deductible

• They represent workers in negotiations with employers

What have labor unions historically contributed to?

• Technological innovation

• Environmental degradation

• Establishment of labor laws and regulations

• Market dominance

What impact have multinational corporations had on the global economy?

• Decreased job creation

• Focused on advancing social objectives

• Advocated for fair wages

• Facilitated the movement of capital, goods, and services across borders

What role do nonprofit organizations play in the market?

• Negotiating with employers regarding wages

• Providing essential services and addressing societal issues

• Exploiting labor

• Dominating the market

What is not a primary goal of nonprofit organizations?

• Promoting environmental conservation

• Fostering community development

• Advancing social welfare

• Making a profit

What benefits have labor unions secured for workers?

• Market dominance

• Tax-exempt status

• Healthcare and retirement plans

• Revenue from operations outside of their home country

What criticism have multinational corporations faced?

• Promoting social welfare

• Securing benefits for workers

• Exploitation of labor and environmental degradation

• Advocating for marginalized groups

What is a characteristic of a multinational corporation?

• Being granted tax-exempt status by the IRS

• Operating without a centralized management structure

• Deriving a quarter of its revenue from its home country

• Deriving a quarter of its revenue from operations outside of its home country