The "Race to the Bottom" in Relation to the Global

question 17

Multiple Choice

The "race to the bottom" in relation to the global economy means that:

• A) retailers and manufacturers are competing to have the most appealing work conditions and benefits for the lowest-level employees
• B) retailers and manufacturers are making an effort to give the lowest-level workers more decision-making power
• C) retailers and manufacturers are building more and more factories underground so they do not have to worry about environmental degradation
• D) retailers and manufacturers will go anywhere to find the lowest wages
• E) large retailers are racing to acquire all small firms with the goal of making small firms obsolete

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Definitions:

Net Income

The total profit or loss of a company after all revenues and expenses have been accounted for, often referred to as the bottom line.

Salary Allowances

Additional benefits provided to employees on top of their base salary, which could include housing, transportation, or health benefits.

Voluntary Association

An organization formed by individuals who voluntarily come together to pursue common interests or goals without seeking profit.

Co-Own Business

A business jointly owned by two or more individuals or entities, sharing the responsibilities, profits, and losses.