3.3 - workers

Question 1

specialisation and division of labour

Answer 1

• individuals + producers concentrate on producing goods/services in which they have an advantage
  
  • diving these tasks is called the division of labour

Question 2

advantages of specialisation for workers

Answer 2

• can concentrate on a particular task
• expertise
• time saving
• more productive
• greater output
• higher wages

Question 3

disadvantages of specialisation

Answer 3

• the task can be very repetitive
• lack of variety can make the job boring
• demotivation –> lower productivity
• dependent on other people in areas they don’t specialise in

Question 4

wage factors (8, name 3)

Answer 4

• salary
• wage
• piece rate
• overtime
• bonus
• commission
• profit related pay
• share options

Question 5

non-wage factors (9, name 3)

Answer 5

• fringe benefit
• job satisfaction
• job security
• location
• quality circle
• on the job training
• size of firms/career prospects
• working hours/length of holidays
• working conditions

Question 6

factors that motivate people to work (4)

Answer 6

• recognition
• achievement
• promotion
• responsibility

Question 7

labour market - demand & supply curve

Answer 7

• demand for labour = amount of labour required by employers
• supply of labour = amount of labour supplied by employees
  
  • Qd > Qs
    
    • excess supply: unemployment

Question 8

PED & PES of labour are ELASTIC

Answer 8

• sensitive to wages
• easy to get workers
  
  • workers are unskilled
• workers can be found easily

Question 9

PED & PES of labour are INELASTIC

Answer 9

• employers not sensitive to a change of wages
  
  • they need the workers, so the workers are skilled
• if wages increase, the number of workers available may not increase much
  
  • antisocial jobs, high risk jobs

Question 10

gov policies on the labour market (3 examples)

Answer 10

• minimum wage legislation
  
  • leads to a surplus of labour, so there is unemployment
  • however, it leads to a better quality of life for low skilled workers
• maximum working hours
  
  • over maximum = OT, x1.5 payment
• safe work environment
  
  • safety laws
  • no discrimination

Question 11

factors influencing differences in earnings

Answer 11

• supply & demand of labour
• relative bargaining power
• discrimination in the workplace
• changes in tech
• diff gov policies

Question 12

benefits of working for a large company

Answer 12

• better staff facilities
• greater change of promotion
• higher wages
• better training
• job security
• opportunity to join a TU
• opportunity to work abroad
• greater status

Question 13

benefits of working for a small company

Answer 13

• more personal
• less stressful
• less need to travel (family)