Joseph's Work Involves Union Votes, Negotiations for Union Agreements, Contract

question 19

Multiple Choice

Joseph's work involves union votes, negotiations for union agreements, contract collective bargaining, and handling grievances.Joseph's human resource management specialty is __________.

• A)the legal environment
• B)compensation and benefits
• C)labor and industrial relations
• D)safety and security
• E)EEO

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Definitions:

Factor Market

A marketplace for the services of a factor of production, such as labor, capital, or land, where these are bought and sold.

Marginal Productivity

Refers to the increase in output that arises from an additional unit of input, assuming all other factors of production remain constant.

Marginal Productivity Theory

An economic theory suggesting that payment to factors of production equates to their marginal contribution to the output.

Value Added

The increase in the value of a product or service as a result of a particular process, typically measured as the difference between the cost of inputs and the price it's sold for.