Examlex
A union is reluctant to agree to productivity-enhancing work-rule changes to enhance job security if in the past it has made similar concessions but believes management has not stuck to its assurance of greater job security in return.The term that best describes this sub-process of labour-management negotiations is
Close Substitutes
Products or services that can easily replace each other in the eyes of consumers due to their similar functions or characteristics.
Imperfectly Competitive
A market structure where individual producers have some control over the price and supply of products, as opposed to perfect competition where no single producer can influence the market.
Market Price
The prevailing rate at which a commodity or service is available for purchase or sale in a specific market.
Quantity Supplied
The total amount of a good or service that producers are willing and able to sell at a given price over a specific time period.
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