◇ A person who likes working with numbers and informationQuestion 91 ptsWhich sector of the economy is expected to see the greatest increase in jobs?O ServiceO AgricultureManufacturingMiningPrecision production

Sector of the Economy Expected to See the Greatest Increase in Jobs Overview of Job Growth TrendsIn…

Answered: ◇ A person who likes working with…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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45:42 labor force is 180 million. The number of employed workers in this economy is Multiple Choice 166.5 million. 13.5 million, 174.6 million. 15.7 million.
Scenario -- Precision Electronics Precision Electronics are a family run company employing around 400 people.The company is rather informal in that there are no specific job descriptions for any employee, but there is a very formal hierarchy and it is expected that supervisors keep a close eye on their subordinates and see that they do the job“their”way. There are 4 directors of the company – all members of the same family; they undertake all the decisions,do not take advice from their senior management team(and certainly not from anyone below that level),and are known to run a very tight ship.Major suppliers to the company find that the directors are very business like but are impossible to build any rapport with. The Directors of the company are Operations - responsible for the manufacture and refurbishment of electronic components; Commercial – responsible for ensuring that purchasing is undertaken maximising quality and minimising prices paid; Financial; Sales and Marketing.…
The company can have its own facilities overseas or outsource production overseas. Identify two-three benefits of using low-wage labor. Identify two-three disadvantages of using low-wage labor. Explain your reasoning.
Lincoln Electric Company's guaranteed employment policy ensures that employees will not be laid off for any economic reason. This has led to low employee turnover at the company. Are there any negatives about such a policy for Lincoln Electric?

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◇ A person who likes working with numbers and information Question 9 1 pts Which sector of the economy is expected to see the greatest increase in jobs? O Service O Agriculture Manufacturing Mining Precision production