A fiRm That Substitutes Labour for Machinery and Equipment Is

question 384

True/False

A firm that substitutes labour for machinery and equipment is said to be capital-intensive.

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Definitions:

Bargaining Zone

The range or area within which an agreement is satisfactory to both parties involved in negotiation, typically between employer and employee or buyer and seller.

Wildcat Strike

A wildcat strike occurs when workers suddenly go on strike, without the authorization (presumably) of the striker’s union and while a binding labor agreement is still in effect.

Binding Labor Agreement

A legally enforceable contract between a labor union and an employer that specifies the terms of employment and worker rights.

Formal Grievance Systems

Institutionalized processes allowing employees to file complaints or disputes for formal review and resolution.