Global Value Chains Face Higher Levels of Risk and Uncertainty

question 23

True/False

Global value chains face higher levels of risk and uncertainty, requiring more inventory and day-to-day monitoring to prevent product shortages.

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Definitions:

Sector Bargaining

A form of labor negotiations where unions and employers across a specific sector of the economy (like manufacturing, health care, or education) negotiate collective bargaining agreements that cover all workers and employers within that sector.

Industry-Wide Bargaining

The process of collective negotiations conducted between labor unions and employers across an entire industry, rather than with a single employer.

Collective Bargaining

The process of negotiation between employers and a group of employees aimed at reaching agreements to regulate working conditions.

Codetermination

A practice where workers have a role in the management of companies, often through representation on corporate boards.