Negotiations Between an Employer and a Union Over, Primarily, Wages

question 49

Multiple Choice

Negotiations between an employer and a union over, primarily, wages, hours, and terms and conditions of employment are known as bargaining.

• A) appropriate
• B) exclusive
• C) mutual
• D) collective

Evaluate the relevance of costs and the concept of sunk costs in business decisions.

Interpret the effects of opportunity costs on business decisions.

Understand the theory of constraints and its application in managing production bottlenecks.

Analyze the profitability of products or services given constraints.

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Definitions:

Operating Assets

Assets used in the normal operations of a business to generate income, such as equipment, inventory, and receivables.

Investment Center

A segment or area of a business responsible for its own revenues, expenses, and investment in assets.

Controllable Margin

The portion of profit or income that can be directly influenced by managing decisions, excluding fixed costs and other unchangeable expenses.

Operating Assets

Assets that are used in the day-to-day operations of a business to generate revenue, such as equipment, inventory, and property.