The First Two Decades of the 20^th and 21^st Centuries

question 43

Multiple Choice

The first two decades of the 20^th and 21^st centuries were similar in terms of factors that were reshaping the business environment.The most significant of these common factors were:

• A)Political turbulence: in the early 20^th century the collapse of the Austro-Hungarian and Ottoman empires,in the 21^st century the ethnic and religious strife and the rise of populism
• B)Technology: in the 20^th century electricity,the telephone and the automobile;in the 21^st century the internet and mobile communication
• C)Popular disaffection with big business: in the 20^th century opposition to the concentration of economic power in monopolies and trusts,in the 21^st the inequality associated with the capitalist economy
• D)Corporate social responsibility: in the 20^th century outrange against unsafe and unhealthy products and worker exploitation;in the 20^th century concerns over environmental irresponsibility and exploitation of third world workers.

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Definitions:

Agency Relationships

A legally binding relationship established between two parties, where one, the agent, is authorized to act on behalf of the other, the principal, in business dealings.

Employment Law

The branch of law that deals with the rights and duties between employers and workers.

Agency Law

A body of law concerned with principal-agent relationships, focusing on the rights and duties that arise when one party acts for or represents another.

Principles

Fundamental truths or propositions that serve as the foundation for a system of belief, behavior, or reasoning.