What Is the Role of Corporations in Promoting Labor Standards

question 172

Multiple Choice

What is the role of corporations in promoting labor standards?

• A) Because of pressure from consumers and unions, corporations have begun to monitor labor conditions in their overseas plants.
• B) Despite pressure from consumers and unions, corporations have no role in enforcing labor standards in their overseas plants.
• C) Because of pressure from consumers and unions, corporations have enacted laws for labor standards in many countries.
• D) Corporations now must report labor standards in their overseas plants to their respective governments.

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Definitions:

Efficiency Loss

A reduction in economic efficiency resulting from not allocating resources optimally, often seen in the presence of market distortions like taxes or subsidies.

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or service is not achieved or is not achievable.

Actual Production

The total quantity of goods and services produced by an economy or firm at any given time, reflecting real output.

Diagram

A simplified drawing showing the appearance, structure, or workings of something; a schematic representation.