Asked by
James Duryee
on Nov 28, 2024
Verified
According to the mainstream economics view, unions are:
A) Tools of management that are used to suppress workers.
B) Monopolies that interfere with economic efficiency.
C) A symptom of poor management.
D) Effective at balancing the power between management and labor.
Economic Efficiency
The optimal allocation of resources where output is maximized for a given set of inputs, or the input cost is minimized for a certain level of output.
Unions
Organizations formed by workers from related fields that work for the collective welfare of their members, focusing on negotiating wage rates, work practices, and benefits.
- Determine the function and importance of labor unions within the work environment.
- Investigate the repercussion of economic doctrines on the conventions and laws pertaining to labor relations.
Verified Answer
TT
Learning Objectives
- Determine the function and importance of labor unions within the work environment.
- Investigate the repercussion of economic doctrines on the conventions and laws pertaining to labor relations.