What Is an Intangible Resource

question 60

Short Answer

What is an intangible resource?

Differentiate between legal and illegal union and employer practices.

Explain the implications of collective bargaining on workers and the bargaining unit.

Understand the role and functions of the National Labor Relations Board (NLRB).

Assess the legality of employer actions against unionization efforts.

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Definitions:

Total Variable Cost

The sum of all costs that vary directly with the level of production, including materials and direct labor.

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent or salaries.

Factory Overhead Cost Budget

An estimate of expected factory overhead costs for a specific period, used for planning and controlling manufacturing expenses.

Total Variable Cost

The sum of all costs that vary directly with the level of production, including materials, labor, and other expenses that increase with greater output.