Because a Unionized Workforce Increases Wage Costs,compared to Unorganized Firms

question 67

True/False

Because a unionized workforce increases wage costs,compared to unorganized firms in the same industries,a unionized firm is at a competitive disadvantage.

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Definitions:

Capital

Economic resource that is used to produce goods and services, including buildings, machinery, and equipment.

Financial Assets

Resources having economic value that are held by an individual or corporation, primarily including stocks, bonds, and cash equivalents.

Entrepreneur

A profit-seeking decision maker who starts with an idea, organizes an enterprise to bring that idea to life, and assumes the risk of the operation

Profit

Reward for entrepreneurial ability; sales revenue minus resource cost.