When Workers Go on Strike, Management Is Often Compelled to Keep

question 142

Multiple Choice

When workers go on strike, management is often compelled to keep the business operation running. If it is unable to achieve this on its own, management may

• A) elect to proceed with a lockout.
• B) close down the facility and permanently fire the strikers.
• C) hire strikebreakers.
• D) picket.

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Definitions:

Marginal Benefit

This refers to the additional satisfaction or utility that a person receives from consuming an additional unit of a good or service.

Consumer Surplus

Rephrased: The economic benefit or satisfaction gained by consumers when they pay a price lower than what they are ready to pay for a product or service.

iTunes Download

The action of obtaining digital media files, including music and applications, from Apple's iTunes Store.

Marginal Cost

The cost incurred by producing one more unit of a good or service.