Exam 13: The Economy and Work in Global Perspective

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.

Occupations such as pharmacist have already been:

Today,many corporations are global in scope.Universal corporations are large corporations that are headquartered in several countries but sell and produce goods and services in only one country.

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

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

Job satisfaction refers to people's attitudes toward their work based on their job responsibilities,the organizational structure in which they work,and their individual needs and values.

As workers grew tired of toiling for the benefit of capitalists instead of for themselves,some of them banded together to form the first national labor union,the __________,in 1869.

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

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.

__________ work is part-time work,temporary work,or subcontracted work that offers advantages to employers but can be detrimental to the welfare of workers.This type of work is found in every segment of the work force.

In advanced monopoly capitalism,profits have become even more concentrated.Although some people own some stock,they do not own control; in other words,they are unable to participate in establishing the policies that determine the size of the profit or the rate of return on investments.

Which of the following groups are NOT typically employed in the lower-tier sector of employment?

Summarize secondary sector production and the typical characteristics of industrial economies.

Describe in detail unemployment in the United States.

When fewer goods are produced,workers are laid off,credit becomes difficult to obtain,and people cut back on their purchases even more,fearing unemployment.Eventually this produces a distrust of the economy,resulting in __________,which is a decline in an economy's total production that lasts six months or longer.

Sociologists establish broad occupational categories by distinguishing between employment in the labor market.The secondary labor market consists of high-paying jobs with good benefits that have some degree of security and the possibility for future advancement.

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

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.

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

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.