A Grievance Is

question 149

Multiple Choice

A grievance is

• A) an implication that management has broken a management-union agreement, but it must be proven.
• B) an employee's perception that management has not in some way fulfilled a labor contract agreement.
• C) the disappointment that members of a union feel when management refuses to participate in good faith collective bargaining.
• D) the result of a poorly arbitrated conflict.

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Definitions:

Marginal Revenue

The boost in income from the sale of an additional unit of a product or service.

Demand

The desire and willingness of consumers to purchase a particular good or service at various prices.

MC > MR

A condition where the marginal cost of producing an additional unit is greater than the marginal revenue earned from selling it, suggesting a decrease in production might increase profit.

Profit

The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.