An Assumption of the Model of Perfect Competition Is

question 272

Multiple Choice

An assumption of the model of perfect competition is:

• A)discrimination.
• B)difficult entry and exit.
• C)many buyers and sellers.
• D)limited information.

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Definitions:

Permanent Strike Replacements

Workers hired to permanently take the positions of striking workers, a tactic sometimes used by employers during labor disputes.

Lockout

An action taken by employers to prevent employees from entering the workplace, typically during a labor dispute to pressurize the labor side.

Secondary Boycott

A form of protest where the union encourages both its members and the general public not to buy products or services from a company that is involved in a dispute.

Permanent Strike Replacements

Refers to workers hired to fill the positions of striking employees on a long-term or lasting basis, which can affect the bargaining power of the striking workers.