Ireland Has a Statutory Work Council System in Which Works

question 43

True/False

Ireland has a statutory work council system in which works councils are created by the trade unions, which also define their regulations based on the national sectoral collective agreement.

---

Definitions:

Partial Equilibrium Analysis

An economic analysis that considers the equilibrium in a single market or industry without taking into account the effects from other markets or industries.

General Equilibrium

An economic state where supply and demand are balanced across all markets in the economy simultaneously.

Continuous Demand

Demand for a good or service that can be quantified at every level of production or price, without any gaps.

First Theorem of Welfare Economics

A principle stating that under certain conditions, a market in equilibrium will allocate resources efficiently in a way that maximizes total social welfare.