A Labor Union Is Likely to Seek All of the Following

question 313

Multiple Choice

A labor union is likely to seek all of the following EXCEPT

• A) economic improvements for their members.
• B) safer working conditions.
• C) increased competitiveness in the labor market.
• D) increased job security for its members.

---

Definitions:

Sensitivity

The quality of being easily affected by outside forces or influences, often used in discussing market sensitivity to price changes or consumer sensitivity to environmental issues.

Price Elasticity

An economic concept that describes the degree to which the demand for a product or service varies with its price.

Survival Pricing

A pricing objective that involves lowering prices to the point at which revenue just covers costs, allowing the firm to endure during a difficult time.

Break-Even Point

The point at which total revenue equals total costs, resulting in no net loss or gain for the business.