Collective Bargaining Is the Process by Which a Labor Union

question 47

True/False

Collective bargaining is the process by which a labor union and a firm negotiate an employment contract.

---

Definitions:

Downstream Division

Part of a company involved in the final processing, distribution, or selling of a product.

Intermediate Good

A product used in the manufacturing process to produce a final good or finished product, not sold directly to consumers.

Transfer Price

The price at which goods or services are sold between departments within the same organization or between affiliated companies.

Division Producing

An organizational unit within a company that is responsible for creating a specific group of products or services.