A Labour Union in the Labour Market Is Similar to A(n)__________

question 42

Multiple Choice

A labour union in the labour market is similar to a(n) __________ in the output market.

• A) monopsony
• B) tax
• C) cartel
• D) perfect competitor
• E) oligopoly

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Definitions:

Social Interaction

The process by which people act and react in relation to others in a social context.

McGregor

Refers to Douglas McGregor, a social psychologist best known for proposing two theories of human motivation and management: Theory X and Theory Y.

Existence Need Category

A category in Maslow's hierarchy of needs that includes basic physical requirements such as food, water, and shelter.

Physiological

Relating to the functions of living organisms and their parts, or the physical and chemical factors and processes involved.