The world of work quiz

Flextime refers to a schedule that provides employees with the freedom and flexibility to choose their working hours. It allows individuals to adjust their start and end times, as long as they meet the required number of hours. This arrangement offers employees the opportunity to balance their personal and professional commitments, leading to increased job satisfaction and work-life balance.

Globalisation refers to the process of integrating markets, technology, and resources across different economies on an international scale. It involves the free flow of goods, services, capital, and information between countries, leading to increased interconnectedness and interdependence among nations. This process enables companies to outsource their operations to other countries, privatize certain industries, and liberalize trade policies. Therefore, while outsourcing, privatization, and liberalization are all related concepts, globalisation encompasses the broader scope of these processes.

A job refers to the work that is done in exchange for money. It is a regular or temporary activity that a person engages in to earn a living or make a living. A job typically involves specific tasks or responsibilities that need to be performed in order to receive wages or a salary. It is a common term used to describe employment or a means of earning income.

The given correct answer for this question is "Services". Services refer to non-material assistance that people are willing to pay for. Unlike physical goods, services are intangible and cannot be touched or held. Examples of services include haircuts, legal advice, and repair services. People seek services to fulfill their needs or wants, and they are willing to pay for these intangible benefits.

The term "career ladder" refers to a progression of tasks within a specific career sector, starting from entry-level positions and advancing to more advanced levels. It represents the different stages or steps that individuals can go through in their careers, gradually moving up the hierarchy. This term is often used to describe the upward mobility and advancement opportunities within a particular field or industry.

Family friendly programs are workplace initiatives that are designed to support employees in balancing the demands of work and family. These programs often include benefits such as flexible work schedules, childcare assistance, parental leave, and support for caregiving responsibilities. By implementing family friendly programs, employers aim to create a more supportive and inclusive work environment that recognizes and accommodates the needs of employees with family responsibilities.

The correct answer is Global economy. The countries of the world are financially connected through the global economy, which refers to the interconnectedness and interdependence of economies around the world. This connection is facilitated by international trade, investment, and financial transactions, allowing countries to exchange goods, services, and capital across borders. The global economy enables countries to participate in a global marketplace, influencing each other's economic growth, stability, and development.

Wants refer to the possessions or desires that are not necessary for survival but are desired by an individual. These can include material goods, experiences, or other non-essential items that a person may wish to have. While needs are essential for survival, wants are more about personal preferences and desires that go beyond basic necessities. Services and money can be related to fulfilling wants, but they are not the specific term used to describe these desired possessions.

Outsourcing is the process where an outside provider takes over and completes work that was previously done by employees. This can be done to reduce costs, improve efficiency, or access specialized skills or resources that the company may not have in-house. Outsourcing allows companies to focus on their core competencies while delegating non-core activities to external experts.

The term "wage" refers to the payment that an employee receives for their work, which is commonly known as income. Income is a broader term that encompasses various sources of earnings, including wages, salaries, investments, and other forms of revenue. Therefore, income is the correct answer as it accurately represents the payment an employee receives for their work.