Final answer:
An interest dispute refers to a disagreement between union and management representatives over the terms and conditions of employment.
Step-by-step explanation:
The statement is true.
A dispute between union and management representatives over the terms and conditions of employment is indeed termed an interest dispute. This type of dispute occurs when the parties involved have conflicting interests regarding the terms of employment, such as wages, working hours, benefits, or workplace safety.
During such disputes, negotiations take place between union representatives, who advocate for the interests of the workers, and management representatives, who represent the interests of the company or organization. The goal of these negotiations is to reach an agreement that satisfies both parties.
For example, if workers demand higher wages, while the management insists on cost-cutting measures, such as reducing benefits, the parties will engage in negotiations to find a compromise that considers both their interests.