A "Closed Shop" Is

question 47

Multiple Choice

A "closed shop" is

• A)an organization in which a worker is not required to be a member of the union to be hired, but must become a member within a certain period of time after being employed.
• B)an organization in which an employee must belong to the union before he or she can be hired.
• C)an organization of domestic firms that is closed to foreign firms.
• D)a political organization that seeks to raise tariffs on foreign-produced goods imported into the United States.

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Definitions:

Market Segment

A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs.

Attractive Opportunity

A business or investment prospect that is both appealing and likely to yield positive outcomes or profits.

Sales

The process of selling goods or services to customers in exchange for money or other valuable considerations.

Behavioral Segmentation

The division of a market into groups based on consumer behaviors, such as purchasing habits or product usage.