One Reason We Need Government,even in a Market Economy,is That

question 48

Multiple Choice

One reason we need government,even in a market economy,is that

• A)there is insufficient market power in the absence of government.
• B)property rights are too strong in the absence of government.
• C)the invisible hand is not perfect.
• D)Both a and b are correct.

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Definitions:

Workplace Disputes

Conflicts that arise in the workplace environment, including disagreements over policies, discrimination, wages, and working conditions.

National Labor Relations Act

A cornerstone piece of US legislation enacted in 1935 that protects the rights of employees and employers, encourages collective bargaining, and curtails certain private sector labor and management practices that can harm the general welfare.

Industrial Unionism

A labor union organizing method where all workers in the same industry, regardless of job or skill level, are organized into a single union.

Craft Unionism

represents a model of trade unions focusing on skilled workers in a specific craft or trade, aiming to protect their interests and maintain high standards.