BA 1301 Study Guide - quiz Guide: Gross Domestic Product, Wedding Planner, Mixed Economy

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emilypena887

17 Dec 2021

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UHD

Department

Business Administration

Course

BA 1301

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Score: 100: a mixed economy is an economic system that: combines private and government ownership of the factors of production, capital includes money: false. Farmers produce homogenous products, sell them to the common market, and cannot affect prices greatly. This is an example of perfect competition: purdue s patent acted as a(n) _ and prevented endo from entering the market. It takes four consecutive quarters of decline in the gdp: false: market equilibrium is: the point at which quantity supply equals quantity demand, people who combined natural resources, labor, and capital in a profitable venture are entrepreneurs: true. True: _ is the money a company earns from providing services or selling goods. Revenue: within the music industry, four companies control 90% of the music you hear.

Related Questions

Why does the government issue patents? The government issues patents:

(i) to limit excessive economic profits in the short run before new firms have had time to enter profitable markets.

(ii) to encourage competition among firms in markets with barriers to entry.

(iii) to prevent firms from keeping secrets on how a product is made.

(iv) to ensure that new products are safe and effective for consumers.

(v) to encourage firms to spend money on the research and development necessary to create new products

taupeant529

Answer the questions in the image attached on the country: mexico, provide in depth information about each question in the image attached, Once again the topic or my country is MEXICO to answer this all on.

Political and Economic Information

A country's economic and political structure tells potential investors much about a country. Is the government corrupt? How strong is the economy? Potential investors must carefully study these questions and their answers before choosing to invest in a foreign country. For your country, provide the following political information:

- Type of government and current national governing party and leader;

- Major political pressure groups;

- Level of political corruption or transparency (look at the Corruption Perceptions Index);

- Major international political and territorial disputes (in the CIA Factbook).

For your country, provide the following economic information for the most recent period and explain why this is good for business:

- Type of economic system (e.g. market, mixed, command);

- GDP real growth rate/GDP per capita;

- Major import and export partners;

- Major natural resources;

- Domestic currency;

- Domestic exchange rate vs. CAD;

- Inflation rate;

- Unemployment rate;

- National and/or regional minimum wage in local currency and CAD;

- Major international trade organization members and agreements.

OC4248449

QUESTION 1

What is the method to establish pay grade widths in which the point spreads are equal for all pay grades?
a. pay grade bandwidth approach
b. equal interval approach
c. equal increase approach
d. equal percentage approach

1 points

QUESTION 2

Which variable may be considered an advantage associated with the "a priori" method in determining factor weights?
a. It simple and easily understood.
b. It assumes pay structures used for benchmarking are correct.
c. It emphasizes current pay scales.
d. It forces committee members to work together.

1 points

QUESTION 3

The point method of job evaluation has many benefits, but it does have some drawbacks. From the list below, what would be considered a drawback of the point method?
a. creates too large of a hierarchy of jobs
b. creates a large number of appeals
c. regression line is very rarely applied to the pay system
d. appears scientifically objective but in reality it is very subjective

1 points

QUESTION 4

You have been provided with the following information about a certain pay range: minimum $50,000; mid-point $55,000; and maximum $60,000. What is the range spread and the range spread percentage?
a. $10,000 and 20%
b. $5,000 and 83.33%
c. $5,000 and 20%
d. $10,000 and 8.33%

1 points

QUESTION 5

Which step in developing a job evaluation system using the point method allows you to quantify the extent to which each factor is present in a job?
a. defining the factors
b. weighting the factors
c. scaling the factors
d. testing the system

1 points

QUESTION 6

A company decides to include "customer contact" as a compensable factor in their job evaluation system. What conclusion can you draw from this?
a. The organization does not value "customer contact" above all other compensable factors.
b. The organization wants to avoid customer complaints.
c. "Customer contact" would be explicitly linked to performance bonuses.
d. "Customer contact" is central to the execution of the company's strategy.

1 points

QUESTION 7

Which of the following should be avoided when using the point method of job evaluation?
a. benchmarking
b. factor overlap
c. equal interval approach
d. enlargement of pay grid

1 points

QUESTION 8

A "match the market" pay strategy means all jobs in the organization will actually match the market.

True

False

1 points

QUESTION 9

Considering the factor of "supervisory responsibility," which degree statement is an example of inconsistent construct formation?
a. Degree 1: no supervisory responsibilities
b. Degree 2: responsible for supervision of one to three subordinates
c. Degree 3: responsible for supervision of four to nine subordinates
d. Degree 4: responsible for development of annual operating budget

1 points

QUESTION 10

In a point method of job evaluation, large pay range overlaps are preferred.

True

False

1 points

QUESTION 11

Which term refers to the differences between the range midpoints of adjacent pay grades in a pay structure expressed by dollars?
a. range spread
b. broadbands
c. split pay range
d. intergrade differentials

1 points

QUESTION 12

Which of the following best defines a benchmark job?
a. It is a job in the firm's job evaluation system for which there is a good match in the labour market data.
b. It is a job in the market data that matches a pay overlap.
c. It is the job in the organization that has a regression line equal to (1) on the pay policy line.
d. It is the job that is adjusted to the market line for the intended pay level.

1 points

QUESTION 13

Mille, a human resource compensation specialist, determines that the correlation coefficient is nearly –1 (negative one) after calculating a straight regression line. What conclusion can Mille make based on this nearly perfect correlation coefficient?
a. The lower the job evaluation points, the lower the pay
b. The higher job evaluation points, the higher the pay.
c. The higher the job evaluation points, the lower the pay.
d. The nearly –1 (negative one) correlation coefficient implies that no change in the pay system is required.

1 points

QUESTION 14

Your task is to persuade an executive to design a job evaluation system using the point method. What would be the focal point of your argument?
a. The point method has a high degree of accuracy in measuring jobs.
b. The point method includes performance management.
c. The point method is simple to use.
d. The point method is the only system recognized by employment equity legislation.

1 points

QUESTION 15

The terms job evaluation and job analysis are interchangeable.

True

False

1 points

QUESTION 16

One of the greatest benefits of using a point method of job evaluation is that it is statistically scientific.

True

False

1 points

QUESTION 17

Which statement best defines range spread?
a. It is the difference between the first and last pay broadband
b. It is the difference between the range midpoints of adjacent pay grades in a pay structure, expressed in dollars.
c. It is calculated by dividing the intergrade differential (expressed in dollars) of each pay grade by the midpoint (in dollars) of the previous pay grade
d. It is the difference between the maximum and the minimum pay level, in dollars, for a given pay range.

1 points

QUESTION 18

In order to establish a midpoint of the pay range you must first convert the market line into a pay line policy.

True

False

1 points

QUESTION 19

Which of the following takes place once the job evaluation system has been finalized?
a. compensable factors are weighed
b. all jobs are scored
c. factor degrees are analyzed
d. factor weightings are measured

1 points

QUESTION 20

What is a disadvantage of having very narrow pay grades?
a. The only way for an employee to significantly increase their wages is through a promotion.
b. It makes seniority systems redundant.
c. The reliability of the pay grade is low.
d. The internal stability of the pay grade is low.

odoug

BA 1301 Study Guide - quiz Guide: Gross Domestic Product, Wedding Planner, Mixed Economy

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