Answer to Question #225877 in Macroeconomics for Teopolina Shityeni

Question

Explain fully the conditions on which a worker’s bargaining power depends.

Answer 1

The degree of unionization, management/labor concord, and the availability of crucial skills all influence the labor force's bargaining power. In automated manufacturing businesses, labor's percentage of overall operating expenses can be very low, whereas in nonmanufacturing industries, it might be very high.