Discuss Some Types of Situations Where Business Changes Occur for Anti-Union

question 20

Essay

Discuss some types of situations where business changes occur for anti-union reasons and some situations where these changes occur for legitimate business reasons. (page 348)

---

Definitions:

Long-Run Equilibrium

is an economic condition where all inputs and outputs in a market are fully adjusted to any changes, leading to a stable state of operations over time.

Profit

The financial gain obtained when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Competitive Return

The earning or return that an investment generates, over and above the risk-free rate, due to its competitive advantage.

Economic Profit

The difference between total revenue and total cost, including both explicit and implicit costs.