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| a form of alternative dispute resolution (ADR), is a legal technique for the resolution of disputes outside the courts, wherein the parties to a dispute refer it to one or more persons (the "arbitrators", "arbiters" or "arbitral tribunal"), by whose decision (the "award") they agree to be bound. It is a settlement technique in which a third party reviews the case and imposes a decision that is legally binding for both sides.[ |
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| agency shop is a form of union security agreement where the employer may hire union or non-union workers, and employees need not join the union in order to remain employed.[1] However, the non-union worker must pay a fee to cover collective bargaining costs.[1] The fee paid by non-union members under the agency shop is known as the "agency fee."[2][3] |
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| boycott is a form of consumer activism involving the act of voluntarily abstaining from using, buying, or dealing with a person, organization, or country as an expression of protest, usually for political reasons. |
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Definition
closed shop is a form of union security agreement under which the employer agrees to only hire union members, and employees must remain a member of the union at all times in order to remain employed.[1]
International Labour Organization covenants do not address the legality of closed shop provisions, leaving the question up to each individual nation.[2] The legal status of closed shp agreements varies widely from country to country, ranging from bans on the agreement to extensive regulation of the agrement to not mentioning it at all. |
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| In organized labor, collective bargaining is the method whereby workers organize together (usually in unions) to meet, converse, and negotiate upon the work conditions with their employers normally resulting in a written contract setting forth the wages, hours, and other conditions to be observed for a stipulated period.[1] It is the practice in which union and company representatives meet to negotiate a new labor contract.[2] In various national labor and employment law contexts, the term collective bargaining takes on a more specific legal meaning. In a broad sense, however, it is the coming together of workers to negotiate their employment. |
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PURE MONOPOLY
Pure monopoly is a type of market characterized by
- a single seller or producer,
- a unique product, with no close substitute,
- the ability of the seller to ask any price it wishes,
- entry to the industry completely blocked by legal,
technological or economic barriers, and
- no need for nonprice actions, except public relations
or goodwill advertising. |
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| An oligopoly is a market form in which a market or industry is dominated by a small number of sellers (oligopolists). The word is derived, by analogy with "monopoly", from the Greek oligoi 'few' and poleein 'to sell'. Because there are few sellers, each oligopolist is likely to be aware of the actions of the others. The decisions of one firm influence, and are influenced by, the decisions of other firms. Strategic planning by oligopolists needs to take into account the likely responses of the other market participants. This causes oligopolistic markets and industries to be a high risk for collusion |
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Term
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Definition
In economics, a gov. monopoly (or public monopoly) is a form of coercive monopoly in which a government agency is the sole provider of a particular good or service and competition is prohibited by law. It is a monopoly created by the government. [1] It is usually distinguished from a government-granted monopoly, where the government grants a monopoly to a private individual or company.
A government monopoly may be run by any level of government - national, regional, local; for levels below the national, it is a local monopoly. The term state monopoly usually means a government monopoly run by the national government, although it may also refer to monopolies run by regional entities called "states" (notably the U.S. states). |
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Definition
| Merger of two or more companies with similar product lines. |
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