Ask Question
27 June, 00:44

Workers and firms often enter into contracts that fix prices or wages, sometimes for years at a time. If the price level turns out to be higher or lower than was expected when the contract was signed, one party to the contract will lose out. Briefly explain why, despite knowing this, workers and firms still sign long-term contracts.

+4
Answers (1)
  1. 27 June, 01:08
    0
    Answer: Contract are mostly prevalent in the Union jobs which are the jobs in which employees are represented by an organizations which act as an intermediary between the employees and their employers.

    This is done in order to ensure that employees are protected from future inevitable inflation that may come unexpectedly as it usually does.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Workers and firms often enter into contracts that fix prices or wages, sometimes for years at a time. If the price level turns out to be ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers