Wiem

Question 1

Inclusionary economic development

Answer 1

Rnsures that the benefits of economic growth are shared broadly, focusing on reducing inequality and providing opportunities for all, especially marginalised groups

Question 2

Base business

Answer 2

Refers to the core or primary operations of a company, which generate the most consistent and reliable revenue.
Includes essential products or services that a business is known for, excluding new ventures or one time projects

Question 3

Clusters

Answer 3

Refer to groups of similar or related things that are close together, often used in business and economics to describe concentrations of interconnected companies, industries, or activities in a particular geographic area

Question 4

Workforce

Answer 4

Refers to the total number of people qho are employed or available for employment in a particular company, industry or region. It includes all workers from entry level employees to management

Question 5

The press

Answer 5

Refers to the news media, including journalists, reporters, and publications such as newspapers, magazines, and online news outlets

Question 6

Stagnated

Answer 6

Means stopped processing or growing

Question 7

Lions share

Answer 7

to the largest or most significant portion of something

Question 8

Blighted

Answer 8

Severely damaged, deteriorated or affected by decay or harm. In business refers to areas or assets in poor condition

Question 9

The latter goal

Answer 9

Refers to the second of two goals mentioned previously, the second goal

Question 10

Stark difference

Answer 10

A clear noticeable and often striking contrast between two things

Question 11

Economic mobility

Answer 11

Refers to the ability of individuals or families to improve their economic status, typically measured by income, wealth, or social class over time

Question 12

Dearth

Answer 12

Lack of something, or scarcity of something. A situation where there is not enough of a particular resource, item or quality, often leading to problems or difficulty

Question 13

Occupational forecast

Answer 13

A projection or prediction about future trends in the job market, including the demand for specific occupations, employment growth rates and the skills needed in various industries

Question 14

Long haul tracking

Answer 14

The transportation of goods over a long distance by truck

Question 15

Economic cohort

Answer 15

Refers to a group of people who share similar economic characteristics such as income level, employment status or spending habits, often within a specific period or age range

Question 16

Primsry wage earner

Answer 16

The person in a household who earns the most income, typically responsible for providing the main financial support for the family or dependents

Question 17

Secondary earner

Answer 17

Someone in a household who earns a smaller portion of the total income compared to the primary wage earner

Question 18

Seldom

Answer 18

Rarely or infrequently

Question 19

Intergenerational

Answer 19

Refers to strategies or practices that adress or involve different age groups within a company
- intergenerational work force
- intergenerational succession planning
- intergenerational marketing

Question 20

Gross domestic product (GDP)

Answer 20

Measures the total value of all goods and services produced within a country’s borders during a specific period, typically a year or a quarter. It reflects the economic performance and health of a nation by indicating the size and growth rate of its economy

Question 21

Promise scholarship programs

Answer 21

Initiatives that provide financial support for education, aiming to attract and retain talent by covering tuition costs for employees or their families

Question 22

Marginal

Answer 22

Something that is minimal or insignificant importance, impact or effect such as a small increase in profit or minor change in a process

Question 23

Backer

Answer 23

Someone who supports or funds a project, venture or company, often by providing financial resources such as investors, sponsors or individuals who believe in the potential

Question 24

Vie

Answer 24

To compete eagerly or to strive for something

Question 25

The multiplier effect

Answer 25

When an initial investment leads to additional economy activity, amplifying the overall impact on the economy

Question 26

Churn

Answer 26

The rate at which customers stop doing business with a company or the turnover of employees within an organisation. Hugh churn = a lot of employees or customers are leaving

Question 27

Mundane

Answer 27

Ordinary, dull or lacking excitement

Question 28

HRM Human Resources Management

Answer 28

The practice of managing people within an organisation, focusing on recruitment, training, performance management, employee relations, compensation and compliance with labor laws

Question 29

Revitalise

Answer 29

Rejuvinate or reinvigorate a company, product or process such as updating or innovating or rebranding, improving

Question 30

Conduits

Answer 30

Channels or pathways through which something is transmitted or passed, information resources or financial transactions.

Question 31

Employment resource networks

Answer 31

Partnerships that offer support and resources to help individuals find and keep jobs, including training and assistance services

Question 32

Abatements

Answer 32

Reductions or eliminations of taxes, fees or financial obligations

Question 33

High road vs low road

Answer 33

High road: focuses on ethical practices, quality and long term value
Low road: prioritises cost cutting and short term gains, often at the expense of quality and ethics or employee wellbeing

Question 34

Regional indicator

Answer 34

A metric that reflects conditions or trends specific to a particular geographic area

Question 35

Disheartened

Answer 35

Feeling discouraged due to setbacks