At what rate are fast food workers fired or quitting? What does this say about the...
At what rate are fast food workers fired or quitting? What does this say about the quality of the work environment at fast food restaurants? How is working in the fast food industry a good job? How about a bad job? Explain.
Homework Answers
The fast food workers are quitting their jobs very fast as most of the time it is a part time job and people don't care that much about retaining it for long term, so if the work pressure increases they would quit. These jobs are taken up by college goers and they are usually very careless that might be the reason for them getting fired more often as the supply of workers in this industry is inelastic. The quality of work life is not very good as the people working here are not entitled to any benefits. This industry would be good for people looking for people looking for part time job as it is very easy to get in and no specific skills are required. It is bad for people looking for long term job as there are no benefits and no job security.
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At what rate are fast food workers fired or quitting? What does
this say about the...
How do you define the fast food market? What market structure best describes the fast food...
How do you define the fast food market? What market structure best describes the fast food industry? Why? Describe briefly what happened in the Fast Food industry until 2012. Which microeconomic/macroeconomic factors played a role? How did McDonald’s react to these influences? Describe the current state of the fast food industry, including macroeconomic indicators, such as unemployment rate, wage rate, etc. How does the fast food industry compare to the overall state of the economy in the U.S.? Which of...
3. A common practice in the fast food industry is to evaluate a store manager on...
3. A common practice in the fast food industry is to evaluate a store manager on the basis of profits as well as other nonfinancial performance measures (i.e. cleanliness, quality, customer service...). How does this practice violate the controllability principle as used in responsibility accounting? Explain the use of these performance measures in terms of informativeness.
3. A common practice in the fast food industry is to evaluate a store manager on...
3. A common practice in the fast food industry is to evaluate a store manager on the basis of profits as well as other nonfinancial performance measures (i.e. cleanliness, quality, customer service...). How does this practice violate the controllability principle as used in responsibility accounting? Explain the use of these performance measures in terms of informativeness.
3. Fast-food workers have been organizing within NYC over the past few years. They are doing...
3. Fast-food workers have been organizing within NYC over the past few years. They are doing so in an attempt to gain leverage in negotiations for higher wages and better working conditions with their employers. By applying the Hick-Marshall rules of derived demand discuss: a. Whether or not you think they will be successful in negotiating a higher wages and what the dangers of negotiating a higher wage may be. b. If fast-food workers are able negotiate higher wages with...
The reasons given by workers for quitting their jobs generally fall into one of two categories:...
The reasons given by workers for quitting their jobs generally fall into one of two categories: (1) Worker quits to seek or take a different job, or (2) worker quits to withdraw from the labor force. Economic theory suggests that wages and quit rates are related. The table below lists quit rates (quits per 100 employees) and the average hourly wage in a sample of 15 manufacturing industries. Industry Quit Rate, y Average Wage, x ($) 1 1.4 8.20 2...
The reasons given by workers for quitting their jobs generally fall into one of two categories:...
The reasons given by workers for quitting their jobs generally fall into one of two categories: (1) Worker quits to seek or take a different job, or (2) worker quits to withdraw from the labor force. Economic theory suggests that wages and quit rates are related. The table below lists quit rates (quits per 100 employees) and the average hourly wage in a sample of 15 manufacturing industries. Industry Quit Rate,y Average Wage, x($) 1 1.3 8.45 2 0.6 10.6...
The reasons given by workers for quitting their jobs generally fall into one of two categories:...
The reasons given by workers for quitting their jobs generally fall into one of two categories: (1) Worker quits to seek or take a different job, or (2) worker quits to withdraw from the labor force. Economic theory suggests that wages and quit rates are related. The table below lists quit rates (quits per 100 cm- ployees) and the average hourly wage in a sample of 15 manufacturing in dustries. A Wor, rates? What does your model suggest about the...
by workers for quitting their jobs generally fall into one of two categories: (1) Worker quits...
by workers for quitting their jobs generally fall into one of two categories: (1) Worker quits to seek or take a different job, or (2) worker quits to withdraw from the labor force. Economic theory suggests that wages and quit rates are related. The table below lists quit rates (quits per 100 employees) and the average hourly wage in a sample of 15 manufacturing industries. Quit Rate,y 1.15 0.45 Average Wage, x($) 9 I 11.15 Industry 1 2 3 4...
Question 4 (10 marks): Suppose that you have collected data on teenage workers in the fast-food...
Question 4 (10 marks): Suppose that you have collected data on teenage workers in the fast-food industry, and that you have performed various regression analysis. Suppose that a regression yields the following results: Wi =-1+0.3Ai (0.1) Where W is the hourly wage rate (in dollars) and A is the age (in years). The standard error is in parentheses. A second regression yields this estimate: Wi = -1 + 0.3 Ai - 0.01(Ai)2 (a) How much is a 20-year-old predicted to...
Send the answers to me in my personal account: Assume that the fast food market (McDonalds,...
Send the answers to me in my personal account: Assume that the fast food market (McDonalds, etc.) can be segmented as follows in terms of the benefits customers are looking for: Family treat- eat fast food as a reward for good behavior I like it- eat fast food because of its taste, eating it is enjoyable Pressed for time- preference is not to consume fast food but don’t have time for something else Real meal- seeking the convenience of fast...
3. A common practice in the fast food industry is to evaluate a store manager on the basis of profits as well as other nonfinancial performance measures (i.e. cleanliness, quality, customer service...). How does this practice violate the controllability principle as used in responsibility accounting? Explain the use of these performance measures in terms of informativeness.
3. A common practice in the fast food industry is to evaluate a store manager on the basis of profits as well as other nonfinancial performance measures (i.e. cleanliness, quality, customer service...). How does this practice violate the controllability principle as used in responsibility accounting? Explain the use of these performance measures in terms of informativeness.
The reasons given by workers for quitting their jobs generally fall into one of two categories: (1) Worker quits to seek or take a different job, or (2) worker quits to withdraw from the labor force. Economic theory suggests that wages and quit rates are related. The table below lists quit rates (quits per 100 cm- ployees) and the average hourly wage in a sample of 15 manufacturing in dustries. A Wor, rates? What does your model suggest about the...
by workers for quitting their jobs generally fall into one of two categories: (1) Worker quits to seek or take a different job, or (2) worker quits to withdraw from the labor force. Economic theory suggests that wages and quit rates are related. The table below lists quit rates (quits per 100 employees) and the average hourly wage in a sample of 15 manufacturing industries. Quit Rate,y 1.15 0.45 Average Wage, x($) 9 I 11.15 Industry 1 2 3 4...
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