Exam 13: The Economy and Work in Global Perspective

______________ jobs differ from the employment norms of the society in which they are located.Examples in the U.S.labor market include personal service workers and private household workers.

______________ include U.S.automobile manufacturers (referred to as the "Big Three")and cereal companies (three of which own 77 percent of the market).

Discuss the global economy in the future.

The policy of______________,which means "leave alone," was advocated by economist Adam Smith in his 1776 treatise An Inquiry into the Nature and Causes of Wealth of Nations.

In 1990,the United States became the first nation to formally address the issue of equality for persons with a disability.When Congress passed the Americans with Disability Act (ADA),this law established "a clear and comprehensive prohibition of discrimination on the basis of disability."

______________ is an economic system characterized by private ownership of the means of production,from which personal profits can be derived through market competition and without government intervention.

During______________,plants are built,raw materials are ordered,workers are hired,and production increases.In addition,upward social mobility for workers and their families becomes possible.

Most of us are not capitalists;we spend money on the things we own rather than make money from them.Only a relatively few people own income-producing property from which a profit can be realized by producing and distributing goods and services.

Discuss primary sector production that occurs in preindustrial economies.

Which of the following is NOT a characteristic of positions in the lower tier of the service sector?

Pursuit of personal profit-a tenet of capitalism is the belief that people are free to maximize their individual gain through personal profit.In early monopoly capitalism,some stockholders derived massive profits from companies that held near monopolies on specific goods and services (such as the American Tobacco Company).In advanced (late)monopoly capitalism,profits have become even more concentrated (such as______________ Nike or Dell computer).3.Competition-in theory,competition acts as a balance to excessive profits.When producers vie with one another for customers,they must be able to offer innovative goods and services at competitive prices.In early monopoly capitalism,competition was diminished by increasing concentration____________________________within a particular industry (such as Standard Oil Company).An oligopoly exists when several companies overwhelmingly control an entire industry (such as the music industry).A shared monopoly exists when four or fewer companies supply 50 percent or more of a particular market (such the "Big Three" U.S.automobile manufacturers).

Professionals are______________in that they can rely on their own judgment in selecting the relevant knowledge or the appropriate technique for dealing with a problem.

As the United States' largest corporation,General Electric posted total profits of $14.2 billion from 2008-2010 and paid______________in total taxes.

Which of the following theorists is most accurately associated with defining communism?

The mutual interdependence refers to the mutual dependence that various countries have on one another with regard to importing and exporting goods and services is referred to as______________.

Which of the following is NOT a characteristic central to the postindustrial economy?

In relation to the social organization of work,compare occupations and professions.

Symbolic interactionists point out that job satisfaction often is related to______________factors that pertain to the nature of the work itself.

Ideal capitalism is based on the pursuit of collective goals rather than on personal profits.Equality in decision-making replaces hierarchical relationships.Everyone shares in the goods and services of society,especially necessities such as food,clothing,shelter,and medical care,based on need,not on ability to pay.

The flamboyant display of symbols of wealth,such as owning numerous mansions and expensive works of art and wearing extravagant jewelry and clothing,are examples of: