Company a Is Reducing Production Because of a Decrease in Demand

question 30

Multiple Choice

Company A is reducing production because of a decrease in demand for its product. When the company reduces the size of its unionized workforce, which of the following is
Correct:

• A)the union must be given reasonable notice
• B)employees must be given reasonable notice
• C)employees must be given the notice provided for in the collective agreement
• D)younger employees must be laid off first
• E)employees cannot be terminated unless the union consents

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Definitions:

Karl Marx

A 19th-century philosopher, economist, and socialist who analyzed the effects of capitalism and proposed a revolutionary class struggle leading to a society with no class distinctions.

Public Ownership

Ownership of assets by the government or a government entity, rather than by private individuals or organizations.

Laissez-faire

An economic system in which transactions between private parties are free from state intervention, including restrictive regulations, taxes, and tariffs.

Capitalist Economy

An economic system where private individuals and business owners control the production, distribution, and exchange of goods and services, typically driven by profit motives.