Term
| What is the main way to tell if a firm is a monopoly? |
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Definition
| If their market share influences the price, normally when market share is greater than seventy percent. |
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Term
| If there are viable alternatives to the market you control, is there truly a monopoly? |
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Definition
| No, because other businesses can still have a share in the market using the alternatives. |
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Term
| What is Vertical Integration? |
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Definition
| Complete control over the supply chain, by taking control of the independent businesses involved. |
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Term
| Why does Tyson not do Chicken Farming themselves? |
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Definition
| Its not a profitable venture. |
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Term
| What is the tournament ranking system used by Tyson? |
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Definition
| It is based on the characteristics of the chickens weight to feed ration, size of breast compared to rest of body, mortality rate, etc. Each farmers' chickens are compared and then each farmer is payed based on how they rank. |
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Term
| What is it that Tyson Controls in the Ranking System? |
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Definition
| What feed the farmers get and what chickens they get. |
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Term
| How do butchers buy meat? |
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Definition
| Based on weight and the market price. |
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Term
| The Tyson Tournament system is outlined in what? |
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Definition
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Term
| What did the farmer's own? |
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Definition
| The chicken houses, the land, and the debt. |
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Term
| Baby chickens are used to getting warmth from what? |
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Definition
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Term
| The technology Tyson requires is constantly what? |
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Definition
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Term
| The chicken farmers are subsidizing what? |
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Definition
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Term
| The only way a farmer can break a contract with Tyson they would have to do what? |
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Definition
| Intentionally breach the terms of the contract. |
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Term
| Why do famers not unionize? |
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Definition
| Unionizing is demonized in the US, and many chicken farms are in Right to Work States. |
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Term
| What does a successful Union need? |
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Definition
Money
---
People
---
Power to strike
--- |
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Term
| What is the tragedy of the commons? |
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Definition
| Denote a situation where individuals acting independently and rationally according to their own self-interest behave contrary to the best interests of the whole by depleting some common resource. |
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Term
| What do the Right to Work Laws Dictate? |
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Definition
| Its illegal to have a closed shop. |
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Term
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Definition
| A business that forces you to join a union and pay union dues. |
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Term
| Unions help strikers by paying them what? |
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Definition
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Term
| Is it legal for a business to ban unions? |
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Definition
| No, that is rather illegal. |
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Term
| Walmart whenever someone even mentions unions does what? |
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Definition
| Brings in a manager who tries anything to convince them against it. |
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Term
| What are some of the benefits that exist because of Unions? |
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Definition
Overtime
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No more Child Labor
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Breaks
---
Benefits
----
Raises
---- |
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Term
| What is the last in, first out rule? |
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Definition
| If you have to lay someone off then you must fire the last person that was hired. |
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Term
| Individuals who are safe from being fired due to seniority have the ability to do what? |
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Definition
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Term
| If you fire someone arbitrarily then you have to pay what? |
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Definition
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Term
| What is an at will state? |
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Definition
| You can get fired at any moment or quit at any moment for no reason. |
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Term
| China is upset because all of their jobs are going to where? |
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Definition
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Term
| What enforces a Closed Shop? |
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Definition
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Term
| What is the point of a Union? |
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Definition
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Term
| What is super-rare in a Right to Work State? |
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Definition
| Employment Contracts, that ensure job security. |
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Term
| How afraid of Unions if Mcdonalds? |
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Definition
| They will fire everyone, close the establishment, and move at the sight of unions. |
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Term
| If you are hired based on an advertisement, then the business is bound by what? |
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Definition
| Their claims in the advertisement. |
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