Define the Following Terms and Explain Their Importance to the Study

question 13

Essay

Define the following terms and explain their importance to the study of macroeconomics:
a. open economy
b. closed economy
c. budget deficits and trade deficits
d. international capital flows

Recognize how employment equity programs may intersect with discrimination and reverse discrimination.

Comprehend the dimensions of diversity and their impact on workplace values, expectations, and behaviors.

Identify barriers to career growth for women and minority groups within organizational culture.

Understand the role and importance of awareness training in recognizing and responding to cultural differences in the workplace.

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Definitions:

Activity Rate

An overhead rate in activity-based costing. Each activity cost pool has its own activity rate which is used to assign overhead to products and services.

Purchasing Department

A division within an organization responsible for acquiring goods, services, and materials necessary for its operations.

Number of Orders Processed

The total quantity of orders that have been completed and shipped to customers within a given time period.

Batch-level Activity

Operations that are performed on groups of units within the production process rather than individually.