To Reduce Words,some Writers Make Liberal Use of Such Directional

question 63

True/False

To reduce words,some writers make liberal use of such directional points as "the latter," "the former," "the aforementioned," and "as mentioned above." The reduction in words this way helps to make the meaning clearer to the reader.

---

Definitions:

Monopsonies

Market situations in which a single buyer substantially controls the market as the major purchaser of goods and services offered by many would-be sellers.

Bilateral Monopoly

A market structure where there is only one buyer (monopsony) and one seller (monopoly), leading to unique negotiation dynamics.

Monopsony

A market in which a single buyer has no rivals.

Collective Bargaining

The process by which employers and unions negotiate terms of employment, including wages, working hours, and working conditions, to reach a labor agreement.