Explain the objectives of the employment relationship from the perspective of employers, employees, and society. Give at least one example of how these perspectives may conflict.
What will be an ideal response?
The three objectives of the employment relationship include efficiency, equity, and voice. From society's perspective, efficiency helps attain the productive, profit-maximizing use of labor to promote economic prosperity. From both the employer's and employee's perspective, equity is fairness in the distribution of economic rewards, the administration of employment policies, and the provision of employee security. Finally, voice is the ability of the employees to have meaningful input into workplace decisions. These three objectives sometimes work together, but there are times when they may conflict. For example, equitable treatment may reduce flexibility as well as efficiency, or employee voice may make decisions more cumbersome, resulting in inefficiency.
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Which of the following products would probably use a job order costing system?
A) Pens B) Instant coffee C) Computer monitors D) Advertisements
What is the most important part of coaching and why?
What will be an ideal response?
Mary Ann is trying to decide whether to fly to Florida or New York. The cost of her ticket will be the same either way. The cost of the ticket is an example of:
A) sunk cost. B) opportunity cost. C) avoidable cost. D) irrelevant cost.
An American manufacturer with its corporate headquarters in New York City is purchasing goods
from a French supplier. Which of the following statements is true regarding the exchange rate risk for this contract? A) The American company will bear all of the exchange rate risk if the contract is denominated in dollars. B) The French company will bear all of the exchange rate risk if the contract is denominated in dollars. C) Both companies could bear exchange rate risk if the contract is denominated in British pounds. D) Both B and C are correct.