"People of the Same Trade Seldom Meet Together,even for Merriment

question 20

Multiple Choice

"People of the same trade seldom meet together,even for merriment and diversion,but their conversation often ends in a conspiracy against the public." This quote from Adam Smith is referring to which of the following business relationship terms? 

• A) Combination 
• B) Cooperation 
• C) Collusion 
• D) Collaboration

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Definitions:

Knights of Labor

A 19th-century labor organization in the United States that sought to promote the social and cultural uplift of the workingman, and aimed for an 8-hour workday.

Craft Unions

Labor unions representing workers who have specialized skills or crafts, focusing on improving their members' employment conditions.

Decertification

The process by which a labor union is removed as the representative of a group of workers.

Decertification Election

A formal process through which employees can vote to remove a union as their representative.