Introduction to Business Essay

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Chapter 18: Review Your Reading 1) How does labor influence our economy? Labor influences our economy in a major way because we need it for the economic growth within our nation. We need products, services, tools and equipment, and people who obtain all of these things in order to keep our economy going. Without human resources, roads and buildings couldn’t be operated. 2) How many workers are employed in our work force? There are more than 160 million people employed in our work force. 3) Name two publications of the Bureau of Labor Statistics that offer information about the job market. The Occupational Outlook Handbook and the Occupational Outlook Quarterly are two publications of the Bureau of Labor Statistics that offer information about the job market. 4) What types of businesses are expected to provide the most jobs? The service producing businesses are expected to provide the most jobs. 5) What occupational groups are expected to have the largest growth by the year 2005? The professional and related occupation, service occupation, and transportation, material moving are expected to have the largest growth by 2005. 6) How do business cycles influence job opportunities? Business cycles influence job opportunities by continuing the needs and wants of goods and services. 7) In what ways does competition among businesses affect job opportunities? Competition among businesses affects job opportunities by downsizing or upgrading equipment and systems which results in more goods being produced in less time. 8) What are two societal factors that affect job opportunities? The age make up of our population and immigrants are two societal factors that affect job opportunities. 9) What are three workplace changes that have affected employment opportunities? The role of federal government, the makeup of the workforce, and the increased use of technology

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