A Substantive Strategy Is Used When Control Risk Has Been

question 32

True/False

A substantive strategy is used when control risk has been set at high.

Identify the impact of labor migration on wage rates and output in both origin and destination countries.

Distinguish between explicit and implicit costs of migration and how they influence migration decisions.

Grasp the socio-economic effects of migration on destination countries, including impacts on output, wage rates, and population growth.

Explain the significance of "beaten paths" in labor migration and how social networks influence migration patterns.

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Definitions:

Backup Sourcing

Is the strategy of establishing alternative suppliers to ensure the continuity of supply in case of primary supplier failures.

Margin Lost

The reduction in potential earnings or profit due to inefficiencies, increased costs, or missed opportunities.

Stockout

A situation where inventory is exhausted, and a product is unavailable for sale or delivery, potentially leading to lost sales and customer dissatisfaction.

Cost of Understocking

The financial loss or missed opportunity cost incurred when inventory levels are too low to meet demand.