Exam 13: The Economy and Work in Global Perspective

In theory,______________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 aggressive prices.

Recently,some analysts have suggested that the United States has assumed many of the characteristics of a(n)______________(a state that uses extensive government action to provide support and services to its citizens)as it has attempted to meet the basic needs of older persons,young children,unemployed people,and persons with a disability.

The______________labor market consists of low-paying jobs with few benefits and very little job security or possibility for future advancement.

A(n)______________exists when four or fewer companies supply 50 percent or more of a particular market.

All of the following are examples of positions within the lower tier of the service sector EXCEPT the:

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:

Most workers in preindustrial economic structures engage in______________production,which is the extraction of raw materials and natural resources from the environment.

Describe the purpose of the economy and provide examples of the related components of an economy.

Under early monopoly capitalism (1890-1940),most ownership rapidly shifted to:

The______________is the rise and fall of economic activity relative to long-term growth in the economy.

In hunting and gathering societies,the economy becomes distinct from family life.The distribution process becomes more complex,with the accumulation of a surplus such that some people can engage in activities other than food production.

______________ is the world's largest corporation.

Government ownership in Sweden is limited primarily to railroads,mineral resources,a public bank,and liquor and tobacco operations.The government is also heavily involved in providing services such as medical care,child care,and transportation.Sweden exemplifies: