Labor Unions Are

question 78

Multiple Choice

Labor unions are:

• A)groups of employees who join together to bargain with their employer(s)over salaries and work conditions.
• B)groups of employers who join together to create fair employment packages for employees within a certain geographical area.
• C)groups of employers who petition the government to regulate the safety conditions of certain industries.
• D)groups of employees who petition the government to oversee the employment conditions of employees who work for major corporations.

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Definitions:

Positive Externality

A benefit that affects a party who did not choose to incur that benefit.

Externalities

Economic side effects or consequences of industrial or commercial activity that affect other parties without being reflected in the costs of the goods or services involved.

Injunctions

Court orders requiring an individual, group, or organization to do or refrain from doing a particular act.

Externalities

Externalities are indirect effects of economic activities on third parties, which can be either positive or negative.