Your Opportunity Cost of Choosing a Particular Activity

question 184

Multiple Choice

Your opportunity cost of choosing a particular activity

• A)can be easily and accurately calculated
• B)cannot even be estimated
• C)does not change over time
• D)varies, depending on time and circumstances
• E)is measured by the money you spend on the activity

---

Definitions:

Collective Bargaining

The process by which employers and employee representatives negotiate conditions of employment, such as wages, hours, and working conditions.

Chief Negotiator

The principal or lead person responsible for conducting negotiations on behalf of an organization or government.

Just Unionized

Recently formed or recognized as a labor union, often aimed at negotiating better wages, benefits, and working conditions for employees.

WARN Act

The Worker Adjustment and Retraining Notification Act, a U.S. labor law that requires employers to provide notice 60 days in advance of covered plant closings and mass layoffs.