Question

59) One of the main economic benefits of unions is:

Group of answer choices

unions can provide a collective voice which facilitates information transfer from workers to management.

unions create deadweight loss through collective bargaining agreements

unions protect workers and bargain for higher wages.

Answer 1

Option B :- unions create deadweight loss through collective bargaining agreements

A union is a group of people who come together to improve the work-life of workers. The union's main advantage is collective bargaining. That means if an employee or worker feels that he should be paid more for his work, he does not have the power to impose that to the organization, then he will expose this in the union and the union could come together to do bargaining to the organization which is called collective bargaining. This will benefit workers in a big manner. But this collective bargaining will put pressure on the organization head which indeed is a deadweight loss.

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