In Today's Economy, Only Large Business Enterprises Should Operate as Corporations

question 330

True/False

In today's economy, only large business enterprises should operate as corporations.

Learn the difference between substantive, procedural, interpretive, and legislative rules created by administrative agencies.

Recognize the importance of federal privacy laws and the limitations on the disclosure of personal information by federal agencies.

Describe the historical context and significance of key administrative agencies, like the Interstate Commerce Commission.

Understand the processes and restrictions involved in rulemaking, including formal and informal methods.

---

Definitions:

Minimum Wage

The lowest legal amount that can be paid to workers by employers, typically set by government legislation.

Fast Food

Food that is prepared and served quickly, often with an emphasis on convenience and typically from a business specializing in such meals.

Division of Labour

The division of labour refers to the allocation of different parts of a manufacturing process or task to different individuals in order to improve efficiency.

Deskilling

Refers to the process by which work tasks are broken into simple routines requiring little training to perform. Deskilling is usually accompanied by the use of machinery to replace labour wherever possible and increased management control over workers.