| A | B |
|---|
| Collective bargaining | Union and management negotiations |
| Diminishing returns | Point reached at which additional inputs result in lower additional input |
| Union recognition | Acceptance of a union as sole bargaining agent for the workers in a shop |
| Strike | Labor's most powerful weapon |
| Standard of living | A measure of the quantity of goods and services available |
| Gross Domestic Product | Value of final goods and services produced in a given period of time |
| Labor force | Individuals, 16 years or older, working or looking for work |
| Minimum wage | Lowest legal wage an employer can pay |
