____ Is the Final Step in Virtually All Union Grievance

question 14

Multiple Choice

____ is the final step in virtually all union grievance procedures.

• A) A strike
• B) A walk out
• C) Mediation
• D) Arbitration

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Definitions:

Franchisees

Individuals or companies that purchase the rights to operate a branch of a larger company or brand, using the franchisor’s trademarks, systems, and business model.

Moral Hazard

The tendency of individuals or institutions to take on more risk when they know that they will not have to bear the full consequences of their actions.

Adverse Selection

A situation where asymmetric information results in high-risk individuals being more likely to participate in agreements or contracts, to the detriment of one party.

Moral Hazard

The situation where one party is more likely to take risks because another party bears the consequences.