MHR 623 Lecture Notes - Lecture 7: Bargaining Power, Agreeableness, Determinative
20 Jan 2020
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Document Summary
A product of the interactions between the employers and the employees in the socio-political, strategic, functional and workplace tiers of the employment relationship. Shaped by the environment and human decision making including ethics. Ir is a subsystem of industrialized society. They produce a web of rules that govern their workplace. The actors operate in 3 main contexts technology, market conditions and distribution of power. Legal environment: establishes fundamental concepts of employment, employee and. Allocation of rights and powers in employment contexts across actors, and institutions. If a curve is more elastic, then small changes in price will cause large changes in quantity consumed. Bargaining power higher when labour demand is inelastic (not highly responsive to cost/ price increases) Labour is essential and hard to replace. Labour accounts for small fraction of other factors of production. Supply of other factors of production is inelastic. Employee bargaining power is also higher when labour supply is inelastic.
