World labour economy
Which country has the highest population of workers in the world?
China
A worker arrives late twice in a week. What type of issue is this: skill, productivity, or discipline?
Discipline
What do we call it when workers earn more because they have more …
Work experience
What does “labour supply” mean in simple terms?
Number of workers willing to work
On a labor market graph, which axis usually shows the wage, and which shows the number of workers?
Vertical axis = wage, horizontal axis = number of workers
Which company became famous for having “sleep pods” for workers in Japan?
A factory offers higher pay for night shifts. What is this type of pay called?
Shift differential pay
What do we call it when workers learn skills on the job?
On the job training
What is the basic formula for unemployment rate?
(Unemployed / Labor force) × 100
What factors, like births, deaths, and migration, affect the size and makeup of the labor force?
Demographic factors
Which European country is known for a 35-hour workweek?
France
A company gives workers training to use new machinery. What type of capital increases?
Human capital
Who is known for the idea of the “invisible hand” in markets?
Adam Smith
What does “labour demand” mean?
Number of workers employers want to hire
Which American engineer wrote The Principles of Scientific Management and helped start scientific management?
Fredirick Winslow Taylor
Which country is famous for having the highest number of robots working in factories?
South Korea
Two workers are paid differently even though they do the same job. What economic concept does this relate to?
Wage inequality
Who introduced the 40-hour workweek in his factories to improve productivity?
Henry Ford
What is the term for the natural movement of workers entering or leaving jobs?
Frictional unemployment
How many factors affect to the labor market ? Their name!
Demographical , Educational, Technological and Economical factors
Which country has the lowest unemployment rate among developed nations in recent years?
Switzerland
A company fires workers because robots replaced their tasks. What kind of unemployment is this?
Structual unemployment
What labour theory says companies may pay higher wages to increase worker effort and reduce turnover?
Efficiency Wage theory
When unemployment is caused by changes in technology or industry, what is it called?
Structural unemployment
To increase labor supply, governments focus on education, training, jobs, and what else?
Labor migration