From a Societal Standpoint, the Main Purpose of a Labor

question 55

Multiple Choice

From a societal standpoint, the main purpose of a labor relations system is:

• A) To equalize the distribution of income across society.
• B) To ensure public safety, promote worker voice in politics, and reduce income inequalities that create a tax burden.
• C) To control the actions of employers and employees so that they are clearly acting in the best interests of society.
• D) To protect the profit maximization goals of business and ensure competition in the marketplace.

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Definitions:

Preferred Shares

A type of stock that provides dividends and certain privileges in the event of liquidation before common stockholders.

Common Share

A type of equity security that represents ownership in a corporation, giving holders voting rights and a share in the company’s profits via dividends.

Liability

The state of being legally responsible for something, especially in terms of debts or legal obligations.

Corporation's Bylaws

The official rules and regulations that govern the management and operations of a corporation, typically established by its board of directors.