Increased Foreign Competition Tends To

question 19

Multiple Choice

Increased foreign competition tends to:

• A) Intensify inflationary pressures at home
• B) Induce falling output per worker-hour for domestic workers
• C) Place constraints on the wages of domestic workers
• D) Increase profits of domestic import-competing industries

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Definitions:

Minority-Owned Businesses

Companies that are owned, operated, and controlled by individuals from ethnic or racial minority groups.

Corporate Social Responsibility

A business model where companies integrate social and environmental concerns in their operations and interactions with stakeholders.

Business Costs

Business costs entail the expenses associated with the day-to-day operations of a business, including but not limited to production, labor, materials, and overhead costs.

Social Power

The ability of an individual or group to influence or control others within a social structure, often used to achieve personal or collective goals.