The Labor Contract for the Employees at Samsung Construction Will

question 82

Multiple Choice

The labor contract for the employees at Samsung Construction will expire soon. The negotiating committee has just reached an agreement with management on the new contract. If union membership votes not to accept the new contract, what action will probably follow?

• A) The negotiations committee must meet again to design a more acceptable agreement.
• B) The employees will go on strike.
• C) The employees will take a strike vote.
• D) Management will fire all of the unionized employees.
• E) The bargaining unit must be redefined.

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Definitions:

Break Even

The point at which total costs equal total revenue, meaning that a business or project is neither making a profit nor incurring a loss.

Variable Cost

A cost that varies with the level of output or production, such as materials and labor costs.

Variable Cost

Costs that change directly and proportionally with the level of production output or sales volume.

Nonprofit Organization

An organization that operates for educational, charitable, social, religious, or other activities serving the public interest or common good, without the goal of making profits for owners or shareholders.