Questions from General Economics


Q: ‘Going global, thinking local’. Explain this phrase, and

‘Going global, thinking local’. Explain this phrase, and identify the potential conflicts for a business in behaving in this way.

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Q: Explain the link between the life cycle of a product and multinational

Explain the link between the life cycle of a product and multinational business.

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Q: Assess the advantages and disadvantages facing a host state when receiving MNC

Assess the advantages and disadvantages facing a host state when receiving MNC investment

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Q: If a firm faces a shortage of workers with very specific skills

If a firm faces a shortage of workers with very specific skills, it may decide to undertake the necessary training itself. If on the other hand it faces a shortage of unskilled workers it may well off...

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Q: ‘Statutory minimum wages will cause unemployment.’ Is this so

‘Statutory minimum wages will cause unemployment.’ Is this so?

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Q: Identify the potential costs and benefits of the flexible firm to

Identify the potential costs and benefits of the flexible firm to (a) employers and (b) employees.

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Q: How have changes in society, laws and technology affected the UK

How have changes in society, laws and technology affected the UK labour market?

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Q: Provide a case for and against high bonuses.

Provide a case for and against high bonuses.

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Q: The wage rate a firm has to pay and the output it

The wage rate a firm has to pay and the output it can produce varies with the number of workers as follows (all figures are hourly): Assume that output sells at £2 per unit. (a) Copy th...

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Q: Make a list of three things you did yesterday. What was

Make a list of three things you did yesterday. What was the opportunity cost of each?

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