The Primary Difference Between a Speculative Risk and a Pure

question 26

Multiple Choice

The primary difference between a speculative risk and a pure risk is that there is a chance for ____ in a speculative risk but a chance for ____ in a pure risk.

• A)gain and loss; only gain
• B)gain and loss; only loss
• C)only gain; gain and loss
• D)only loss; gain and loss

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Definitions:

Lockout

A lockout occurs when an employer denies employees access to the workplace.

Impasses

Situations in negotiations (often labor negotiations) where the parties involved are unable to reach an agreement, leading to a deadlock.

Union Actions

Activities undertaken by labor unions, including strikes and negotiations, aimed at securing better conditions for their members.

Bargaining Unit

A group of employees with a clear and identifiable community of interests who are represented by a single labor union in collective bargaining and labor negotiations.