When Workers Are Paid a Wage That Is Less Than

question 293

Multiple Choice

When workers are paid a wage that is less than their contribution to a monopsonist's revenues

• A) this is sometimes referred to monopsonistic exploitation.
• B) this is sometimes referred to as an incentive.
• C) they seek part time employment.
• D) they file a grievance with their union representative.

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Definitions:

Derived Demand

A demand for a commodity or service that arises from the demand for another commodity or service, for example, the demand for steel being derived from the demand for cars.

Containers

Objects or spaces that are designed to hold, store, or transport goods and materials.

Competitive Bids

Offers submitted by several suppliers or contractors to complete a specific job or supply goods at competitive prices.

Organizational Buying

The process by which businesses or institutions purchase products or services for use in production, operations, or resale.