Localization Economies Are Cost Savings That a Firm Achieves by

question 226

Multiple Choice

Localization economies are cost savings that a firm achieves by

• A) using local rather imported than labour.
• B) clustering with other similar firms.
• C) locating in rural areas.
• D) locating in multiple areas.
• E) avoiding globalization.

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Definitions:

Grievance

Formal complaint filed by an employee or a union that management is violating some provision of a union contract.

Mediation

Dispute resolution process that uses a third party, called a mediator, to make recommendations for settling labor–management differences.

Strike

Temporary work stoppage by employees until a dispute is settled or a contract signed.

Lockout

Management decision to put pressure on union members by closing the firm.