Question

A labor union is an organization of workers who work collectively to network, socialize, and create fellowship.

Answer 1

A labor union is an organization of workers that negotiates with employers over wages and working conditions.

A labor union seeks to change the balance of power between employers and workers by requiring employers to deal with workers collectively, rather than as individuals. As such, a labor union operates like a monopoly in a labor market.

Step-by-step explanation:

A labor union is an organization of workers that negotiates with employers over wages and working conditions.

A labor union seeks to change the balance of power between employers and workers by requiring employers to deal with workers collectively, rather than as individuals.

As such, a labor union operates like a monopoly in a labor market. We sometimes call negotiations between unions and firms collective bargaining.