Use the Following to Answer Question(s): Labor Market

question 161

Multiple Choice

Use the following to answer question(s) : Labor Market

-(Exhibit: Labor Market) Given competitive market demand curve D and union members supply curve S, an increase in the demand for the union-made product will result in a:

• A) new demand curve FTD′.
• B) new supply curve FTS.
• C) shift in the supply curve to S′.
• D) shift in the demand curve to D′.

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Definitions:

Theory Y

A management theory suggesting that employees are naturally motivated, responsible, and self-directed, requiring participative management styles for optimal performance.

Worker Behavior

The actions and conduct displayed by employees in the workplace.

Theory Y

A management concept that assumes employees are inherently motivated, enjoy working, and will take responsibility and be creative if given the opportunity.

Employee Involvement

The practice of including employees in decision making, problem solving, and improvement activities, fostering a sense of ownership and satisfaction.