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Dofasco, Inc

question 103

Multiple Choice

Dofasco, Inc. is a different kind of steel company. Tiny by industry standards, the Canadian-based company has just 8,500 employees and a market cap of $2.3 billion. Dofasco operates with a close eye on the triple bottom line. In addition to tracking financial metrics, Dofasco also monitors its impact on society and the environment. As a result, the company has outperformed many of its biggest competitors. Despite a recent slump in the automobile industry, which accounted for 50 percent of its business, Dofasco ran at 100 percent capacity and finished as one
of the only integrated steelmakers in all of North America to make a profit one year. Dofasco is also one of the only companies in the steel industry without a union, and its employees like it that way. Employee turnover at the company's main operation is less than one percent annually. Part of its low turnover rate is due to the company's concern about protecting its external environment. As the CEO of the company said, "One way to get happy employees is not to wreck their community in which they live."
-Refer to Dofasco. The slump in the automobile industry would be part of Dofasco's ____________environment.

Understand the importance and purpose of economic models.

Identify the participants in the economy and their roles.

Grasp the concept of the circular-flow diagram and its components.

Recognize the significance of the production possibilities frontier (PPF) and its implications.

Definitions:

Unequal Sharing

Asymmetric allocation or distribution of resources, responsibilities, or power among parties.

Covalent Bond

A chemical bond formed when atoms share one or more pairs of electrons, resulting in a stable balance of attractive and repulsive forces between atoms.

Chemical Bonds

The forces of attraction that hold atoms or ions together in molecules and compounds.

Ionic Bonds

A chemical bond formed between two ions with opposite charges through the electrostatic attraction between them.