Under a ________,Unions and Management Negotiate with Each Other in Good

question 95

Multiple Choice

Under a ________,unions and management negotiate with each other in good faith to develop work rules for union members for a specific period of time.

• A) labor contract
• B) collective bargaining system
• C) union acceptance strategy
• D) distributive bargaining agreement

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Definitions:

Profits

The financial gain achieved when the revenues from business operations exceed the expenses, costs, and taxes involved in sustaining the operation.

Opportunity Costs

The value of the best alternative that is foregone when a different option is chosen.

Special Order

A one-time order that is not considered part of the company’s normal ongoing business.

Capacity

The maximum output that a business can produce in a given period with available resources.