Business Dictionary :

Unfair, Unfavourable, Unfulfilled,

Unilateral and Union

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Unfair : adjective : not just

• Unfair competition = trying to do better than another company by using techniques such as importing foreign goods at very low prices or by wrongly criticizing a competitor's products

• Unfair dismissal : removing someone from a job for reasons which are not fair

Unfavourable : adjective : not favourable

• Unfavourable balance of trade = situation where a country imports more than it exports

• Unfavourable exchange rate = exchange rate which gives an amount of foreign currency for the home currency which is not good for trade

• The unfavourable exchange rate hit the country's exports.

Unfulfilled : adjective : (order) which has not yet been supplied

Unilateral : adjective : on one side only or done by one party only

• They took the unilateral decision to cancel the contract.

Unilaterally : adverb : by one party only

• They cancelled the contract unilaterally.

Union : noun :

(a) trade union or trades union or US labour union = organization which represents workers who are its members in discussions with management about wages and conditions of work

• Union agreement = agreement between a management and a trade union over wages and conditions of work

• Union dues or union subscription = payment made by workers to belong to a union

• Union officials = paid organizers of a union

• Union recognition = act of agreeing that a union can act on behalf of staff in a company

(b) Customs union = agreement between several countries that goods can go between them without paying duty, while goods from other countries have special duties charged on them

Unionist : noun : member of a trade union

Unionized : adjective : (company) where the members of staff belong to a trade union

QUOTE : The blue-collar unions are the people who stand to lose most in terms of employment growth.(Sydney Morning Herald)

QUOTE : After three days of tough negotiations, the company reached agreement with its 1.200 unionized workers.(Toronto Star)

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