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Chapter 5

Terms in this set (15)

Contingent Worker
Is one who has no explicit or implicit for long-term
Intermediaries
Are business involved in selling the goods and services of producers to consumers and other businesses.
Service Business
Carries out activities that are consumed by its customers
What happened between 2001-2008
A recession created job losses through 2003, total employment grew by nearly 6%
Who are the baby boomers
People born between 1946-1964
Describe the employment trend of white non-Hispanic workers currently in the economy
Make up 68% of the labor force, loss of jobs
What percentage of all jobs will be held by women by 2018
47%
What percentage of the U.S workforce is made up of contingent workers
5%
How many businesses have no employees other than their workers
19.5 million
What number and percentage of U.S business employ 100 or more employees
182,00 or 0.67%
What happens to a community when a large business opens in an area
Other businesses will often locate there to support the larger business
Producer
Create the products and services used by people & business
Examples of producers
Extractor, Farmer, Manufactures
Explain "Business activities start with producers"
A product has to create the product for all other businesses to work
5 Characteristics of service business
Dentist, Physicians, Lawyers, Pet Sitters, Painters/ fastest growing part of the economy
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