Exam 13: The Economy and Work in Global Perspective

______________ combines elements of a market economy (capitalism)with elements of a command economy (socialism).

______________ occurs as a result of lower rates of production during recessions in the business cycle;a recession is a decline in an economy's total production that lasts at least six months.

Trace the development of labor unions and describe some of the means by which workers resist working conditions they consider to be oppressive.

Due to the extremely high unemployment rates and the large number of individuals employed part- time due to economic reasons,the______________began in 2007-2008.

A worker who earns 65 cents an hour and works 84 hours a week in a U.S.garment factory exemplifies employment in the:

The American Dream of upward mobility is linked to peaks in the business cycle.Once the peak is reached,however,the economy turns down because too large a surplus of goods has been produced.This is due in part to______________,which refers to a sustained and continuous increase in prices.

All of the following are distinctive features of "ideal" capitalism EXCEPT:

A______________is a group of employees who join together to bargain with an employer or a group of employers over wages,benefits,and working conditions.

Describe capitalism from the contemporary world economic system perspective.

There is really not much difference between sociologists who study the economy and economists.

Discuss the conflict perspective on economy and work in the United States.

______________ are large-scale organizations that have legal powers,such as the ability to enter into contracts and buy and sell property separate from their individual owners.

______________ are intangible activities for which people are willing to pay (such as dry cleaning,a movie,or medical care).

On average,______________receive lower pay,less job security,and less access to health insurance,pension plans,and training than their counterparts.

In 1937,______________held their first sit-down strike.The workers occupied the facilities,but refused to work,thus paralyzing production.The sit-down strike represented a new approach that came to dominate U.S.labor activism.

Apply the symbolic interactionist perspective on economy and work in the United States.

Steel workers who process metal ore and autoworkers,who then convert the ore into automobiles,trucks,and buses,are engaged in______________production.

Although the overall number of union members in the United States has decreased since the 1960s,the proportion of all employees who are union members has increased.Today,about 15 percent of all U.S.employees belong to unions or employee associations.

Corporations with control both within and across industries are often formed by a series of mergers and acquisitions across industries.These corporations are referred to as______________,which are combinations of businesses in different commercial areas,all of which are owned by one holding company.

Companies such as Time Warner and Viacom have extensive holdings in radio and television stations,cable television companies,book publishing firms,and film production and distribution companies.These companies are referred to as: