Globalization of Resource Markets Has Resulted in the Business Practice

question 268

Multiple Choice

Globalization of resource markets has resulted in the business practice of offshoring, which involves

• A) only an outflow of jobs away from the U.S.
• B) no possible expansion of jobs in the U.S.
• C) huge losses to consumers in the U.S.
• D) both an outflow as well as an inflow of jobs in the U.S.

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Definitions:

Final Offer Arbitration

A dispute resolution process where each party submits their final offer, and an arbitrator chooses one of those offers as the legally binding settlement, without alterations.

Conventional Arbitration

A dispute resolution process where a neutral third party makes a decision to resolve a conflict, often binding, after hearing arguments and evidence from both sides.

Contract Terms

The specific agreements and conditions outlined in a contract that determine the obligations, rights, and expectations of the parties involved.

Strike

A work stoppage initiated by employees as a protest against poor working conditions, low pay, or other grievances.