A Lockout Occurs When a Unionized Employment Practice Is Adopted

question 64

True/False

A lockout occurs when a unionized employment practice is adopted by nonunion employers in order to avoid unionization by copying what unions have won for their members.

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Definitions:

Production

The method of integrating different physical and non-physical inputs, such as materials and ideas, to produce goods for use.

Opportunity Costs

Missing out on potential benefits from various options due to the selection of a single alternative.

Trade

The practice, in a market economy, in which individuals provide goods and services to others and receive goods and services in return.

Specialize

Specialize refers to the process of focusing efforts and resources on a narrow area of expertise or production to gain efficiency, higher quality, or other advantages.