Economics Investigating Business and Labor Trends Portfolio Unit 3. Questions and Answers.

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Economics Investigating Business and Labor Trends Portfolio unit 3 Part 1: Why is it important for all entrepreneurs to be prepared for changing technology? How can entrepreneurs avoid getti... ng caught up in the hype surrounding their product or service? What other qualities are essential for success as an entrepreneur? Part 2: Why is employee turnover a problem for a business? What are some of the strategies companies employ to limit turnover? How does a business’s corporate affect employee satisfaction? How does a business’s corporate culture affect customer satisfaction? Part 3: How did the minimum wage change in October 1996? What other change occurred in September 1997? Recognize cause and effect Why was the “blow” of October 1996 change softer on some employers then it might have been? Identifying alternatives What alternative did some employers use to lessen the impact of the change on their bottom line? (list at least three.) How are they affected? Young and/or Inexperienced Workers Older and/or Experienced workers Business owners Consumers The U.S. Economy Part 4: Write a persuasive answer to the question: Should the minimum wage be raised? Support your answers with details from the Wall Street Journal Articles, and Chapters 9 and 10 of Economics: Principles in Action, or any other activity from Unit 3. You should have at least three supporting details for your argument. Use the Student Self-Assessment Rubric to review your answer [Show More]

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