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8 Cards in this Set

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RQ19-1 Pg 568-569
How does the use of money solve the problems associated with a barter system of exchange?
Barter system = two parties must need each other’s products at the same time, and they have to be roughly equal in value. Money can be either saved or used immediately, it has a predetermined value and everyone needs it at sometime or another.
RQ19-2 Pg 569
What are the three functions money must perform in a sound monetary system?
Medium of Exchange = anything accepted as payment for products, services and resources.
Measure of Value = a single standard or “yardstick” used to assign values to, and compare the values of, products, services and resources.
Store of Value = a means of retaining and accumulating wealth.
RQ19-3 Pg 570-571
Explain which characteristics money must have.
a. divisibility = the standard unit of money must be divisible into smaller units to accommodate small purchases as well as large ones.
b. portability = Money must be small enough and light enough to be carried easily.
c. stability = Money should retain its value over time.
d. durability = The objects that serve as money should be strong enough to last through reasonable usage.
e. difficulty of counterfeiting = It a nation’s currency were easy to counterfeit- that is to imitate of fake- its citizens would be uneasy about accepting it as payment.
RQ19-4 Pg 571-572
What is included in the definition of M1 supply of money?
M1 supply of money consist of:
1.Currency
2.Demand deposits (checking accounts)
3.Travelers checks
RQ19-13 Pg 591-592
List and explain the five C. of credit management.
Character = Your attitude towards credit obligations.
Capacity = Financial ability to pay back the obligation.
Capital = Assets or net worth
Collateral = real or personal property that can be sold to satisfy the debt.
Conditions = General economic conditions that effect the borrowers ability to pay debt.
1. Why does the UFCW want to unionize and represent Wal-Mart employees? What types of obstacles does the UFCW union face in this effort?
Lot of workers, Because of inadequate pay, inadequate benefits, lack of job security. It will help them with other workers at retailers and service companies. Must overcome the obstacle of the vehement company efforts against the union.
2. Why do companies like Wal-Mart that have acceptable benefits plans (and have even won awards) also have o engage in strong anti-union activities?
They can maintain DIRECT contact with workers. No union intervention. They can also maintain full control over the human resource function. The history of the company is anti-union. If Wal-Mart unionizes then prices go up, It’s not a significantly better price than other stores that results in it not being a Wal-Mart.
3. Do you think that Wal-Mart store employees would vote for or against unionization? Explain your answer.
The employees might be influenced by the union materials. Anti-union management sentiment could back fire if workers get upset and resentful. Employees at times have voted Wal-Mart onto the list of best companies to work for. Maybe those workers are content.