Unions and Other Interest Groups Representing Professions, Like Doctors and Farmers

question 78

True/False

Unions and other interest groups representing professions, like doctors and farmers, regularly practise economic blackmail to force government cooperation.

Identify unfair labour practices by unions and management.

Recognize strategies employees use to promote union membership among co-workers.

Describe the final steps in grievance procedures and their importance.

Explain the principles and practices of collective bargaining.

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Definitions:

Resources

Assets or inputs used to produce goods and services.

Economic Profit

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, indicating the financial gain in excess of opportunity costs.

Accounting Profit

The total revenue of a firm less its explicit costs; the profit (or net income) that appears on accounting statements and that is reported to the government for tax purposes.

Diseconomies of Scale

A situation in which a company or business grows so large that the costs per unit increase, leading to decreased efficiency.