Labor Unions

question 257

Multiple Choice

Labor unions

• A)are similar to cartels.
• B)create labor shortages in non-unionized industries.
• C)create labor shortages in least-skilled workers.
• D)attract a membership of about 25 percent of current U.S.workers.

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Definitions:

Public Sector

The part of the economy composed of both public services and public enterprises, owned and operated by the government.

Generate Revenue

The process of producing income through sales of products, services, or other mechanisms within a business.

Compensation Survey

A tool used by organizations to gather and analyze competitive salary information in order to determine appropriate compensation levels for their employees.

Compensation System

The overall structure and methodology an organization uses to compensate its employees, including wages, salaries, benefits, and incentives.