The Ability of Union Members to Influence the Decisions of Their

question 56

Multiple Choice

The ability of union members to influence the decisions of their union leaders is known as the:

• A) Behavioral dimension of union democracy.
• B) Procedural dimension of union democracy.
• C) Substantive dimension of union democracy.
• D) Elective dimension of union democracy.

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Definitions:

Internalize Costs

The process of ensuring that businesses or individuals take into account the external costs they impose on society in their decision-making.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, resulting in a balance of the market.

Equilibrium Quantity

The quantity of goods or services supplied that is equal to the quantity demanded at the equilibrium price.

Marginal Social Cost

The cost to society of producing one additional unit of a good or service, incorporating both the private costs and any external costs.