Politics Suggest That the Impetus for Change Is More Likely

question 44

Multiple Choice

Politics suggest that the impetus for change is more likely to come from:

• A)employees who are new to the organisation.
• B)outside change agents.
• C)managers slightly removed from the main power structure.
• D)all of the above.

Recognize the relationship between labor costs, wage rates, and market competition.

Describe the significance of human capital investments in the labor market.

Understand the effects of minimum wage policies on employment and labor market dynamics.

Be familiar with the legal and organizational structure of unions and labor laws in the United States.

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Definitions:

External Benefits

Positive effects of a transaction that affect third parties not directly involved in the transaction.

External Costs

Costs that are not borne by the parties involved in an economic transaction but are imposed on other individuals or society at large, such as pollution or congestion.

Coase Theorem

A principle suggesting that if transaction costs are low, private bargains will efficiently resolve the allocation of resources and distribution of goods.

Zoning Ordinance

Legislation that divides an area into zones to specify allowable land uses and regulate building standards, to shape urban growth and land use.