Pioncorp is a company which produces medical supplies. Product x is a new tool used developed to be used in brain surgery. Every unit of product is inspected before dispatch to medical facilities and other customers. To make sure the products meet already established quality standards. The following data has been collected about product x for 2018 and 2019 Analysis
1. How did Pioncorp arrive at the quality standard for its product?

Synthesis
2. Are there other ways of arriving at quality standards beside the one you mentioned in (1) above?

Interpretation
3. Do you think the management of Pioncorp should be worried about the data relating to the production of Product x?

2018
2019
Total output
2000
2350
% defective
%
%
Number of product x returned by customers as faulty
5
4

Problem solving
5. How do you think Pioncorp can reduce the number of defective products

Suppose that kenji, an economist from an am talk radio program, and lucia, an economist from a school of industrial relations, are arguing over health insurance. the following dialogue shows an excerpt from their debate: lucia: a popular topic for debate among politicians as well as economists is the idea of providing government assistance for health benefits. kenji: i think it is oppressive for the government to tax people who take care of themselves in order to pay for health insurance for those who are obese. lucia: i disagree. i think government funding of health insurance is useful to ensure basic fairness. the disagreement between these economists is most likely due to . despite their differences, with which proposition are two economists chosen at random most likely to agree? lawyers make up an excessive percentage of elected officials. minimum wage laws do more to harm low-skilled workers than them. tariffs and import quotas generally reduce economic welfare.

Match the vocabulary word to the correct definition. 1. compensation 2. corporate social responsibility 3. discrimination 4. benefits 5. biodegradable a. a business’s obligation to the community and the environment b. the ability to naturally break down or decompose c. treating someone differently because of his or her race, religion,gender, sexual orientation, or disabilities d. indirect and non-cash compensation paid to employees e. the salary and other benefits for doing a job

Jewelry manufacturers produce a range of products such as rings, necklaces, bracelets, and brooches. what fundamental economic question are they addressing by offering this range of items?