If There Is a Change in Either a Collective Bargaining

question 48

Multiple Choice

If there is a change in either a collective bargaining representative or an employer, parties to an unexpired collective bargaining agreement may not be certain of their status. Which of the following terms is used by the courts to refer to these situations?

• A) lockout
• B) commitment escalation
• C) arbitration
• D) successorship

---

Definitions:

Barriers to Entry

Factors that make it difficult for new firms to enter a market, such as high start-up costs, stringent regulations, or strong incumbent firms.

Monopolist

A market participant that has exclusive control over the supply of a particular good or service, potentially allowing them to manipulate the market.

Increase Their Profits

A strategy or action that leads to a higher amount of net earnings by a business or individual.

Incentive Structure

The system of rewards and penalties that motivates individuals or groups to behave in specific ways beneficial to achieving desired outcomes.