In the Knights of Labor's Vision for the Future, Businesses

question 76

Multiple Choice

In the Knights of Labor's vision for the future, businesses would be owned by:

• A) Cooperatives made up of workers employed by the business.
• B) Bankers, lawyers, and stockbrokers who could best control the flow of money into the economy.
• C) Cooperatives made up of the producers of the goods and services they produced. These would include both workers and their employers.
• D) Cooperatives made up of employers whereby multiple capital owners would join together to finance businesses.

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Definitions:

Just-In-Time Manufacturing

A production strategy that strives to improve business efficiency by reducing in-process inventory and associated carrying costs, delivering materials just as they are needed.

Supply Chains

The entire system of producing and delivering a product or service, from the raw materials to the final consumer.

Global Procurement

The process of sourcing goods and services from the global market to exploit global efficiencies, such as lower cost or enhanced quality and innovation.

Big Data

Describes extremely large data sets that users can analyze to uncover important and helpful statistical patterns, trends, and associations.