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Economics > Workers and Trade Unions > Flashcards

Workers and Trade Unions Flashcards

(65 cards)

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1
Q

Name wage factors (4)

A

wages

overtime pay

bonuses

commision

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2
Q

Define earnings

A

total pay received by worker

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3
Q

Define wage rate

A

wage worker receives per unit of output/time

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4
Q

Define a time rate system

A

wages based on number of hours worked

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5
Q

Define a piece rate system

A

wages based on amount workers produce

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6
Q

Define overtime pay

A

pay to workers that work more than usual working week

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7
Q

Benefits of overtime pay (3)

A

employers can respond to higher demand without hiring new workers

employees can earn more

easier for employers to reduce overtime than fire workers

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8
Q

Disadvantages of overtime pay (3)

A

workers may become tired

productivity may decrease

product quality may decrease

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9
Q

Define a bonus

A

extra payment

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10
Q

Purpose of bonuses (2)

A

reward workers who contribute to higher profits

provide incentive for workers

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11
Q

Disadvantages of bonuses

A

can cause resentment for not receiving bonus

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12
Q

Define commision

A

workers receive proportion of sales value they make

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13
Q

Name non-wage factors (6)

A

Job satisfaction

Type of work

Working conditions

Fringe Benefits

Job security

Career prospects

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14
Q

Define fringe benefits

A

benefits provided to workers by employers

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15
Q

Examples of fringe benefits (3)

A

meals

healthcare

leisure facilities

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16
Q

Define job security

A

how easily workers are likely to become redundant

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17
Q

Name limiting factors of jobs (6)

A

opportunity cost

education/qualifications

poverty

discrimination

age

physical ability

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18
Q

Unskilled workers are paid more than skilled workers

True or False?

A

False

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19
Q

Determinants for demand of workers (5)

A

productivity

price of output

cost of capital

demand of product

size/profitability of firm

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20
Q

Determinants of wages (5)

A

demand and supply

Bargaining power of workers

Government Policies

Public opinion

Discrimination

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21
Q

Name government policies/actions that can change wage rates (5)

A

National Minimum Wage

improved education

immigration policies

anti-discrimination laws

technology

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22
Q

Causes of changes in the supply of labour (5)

A

change in labour force

change in qualifications to do job

degree of risk

change in non-wage benefits of job

change in (non)wage benefits of other jobs

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23
Q

Why may wages change over time? (6)

A

Change in demand/supply of labour

Changes in stages of production

Changes in bargaining power

Changes in government policy

Changes in public opinion

Changes in individuals earnings over time

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24
Q

Primary sector workers are generally paid less than secondary and tertiary sector workers

True or False?

A

True

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25
Why are workers paid less in the primary sector
workers have less skills/qualifications
26
Define the primary sector (2)
extraction/collection of raw materials first stage of production
27
Examples of primary sector industries (3)
agriculture mining fishing
28
Define the secondary sector
processing of raw materials into finished/semi-finished goods
29
Examples of secondary sector industries (3)
clothing steel electronics
30
Define the tertiary sector
producing services
31
Examples of the tertiary sector (3)
banking tourism hospitality
32
How does education increase wage rate
increases their demand as they are now more skilled
33
Define elasticity of demand for labour
responsiveness of demand of labour to change in wage rate
34
Define elasticity of supply of labour
responsiveness of supply of labour to change in wage rate
35
Determinants for elasticity of demand for labour (4)
proportion of labour costs in total costs ease of labour to be substituted for capital elasticity of demand for product produced time period
36
Determinants of elasticity of supply of labour (5)
qualifications/skills required level of employment mobility of labour degree of vocation (attachment) time period
37
Why is demand for labour more elastic in the long run
more time for firms to change production methods
38
Why is supply for labour more elastic in the long run (2)
more time for workers to notice change in wages rate more time for workers to gain qualifications
39
Define specialisation
concentration on particular products/tasks
40
Define division of labour
workers specialising in particular tasks
41
Advantages of division of labour (5)
workers become very good at doing same task over and over again trained more efficiently less time consumed as workers don't have to move from one job to another can earn high wages from their skills being in high demand workers can pursue their specific interests
42
Disadvantages of division of labour (4)
workers can get bored workers may not put in effort and make mistakes specialised workers are occupationally immobile as they are only trained for one job - may be difficult for them to get another job more difficult to replace specialised workers
43
Define trade union
associations of workers formed to represent their interests
44
Name the 4 main types of trade unions
Craft Unions General Unions Industrial Unions White collar unions
45
Define craft unions (2)
represent workers with particular skills e.g plumbers and weavers
46
Define general unions
represent workers with a range of skills/industries
47
Define industrial unions
represent workers in a particular industry
48
Define white collar unions
represent particular professions
49
Functions of trade unions (4)
negotiate for higher wages negotiate for more job security negotiate for better working conditions negotiate for more fringe benefits
50
Define collective bargaining
representative of workers negotiating with employers' associations
51
Arguments trade unions put up (4)
increases productivity firms with increased profits can afford higher wages workers should receive pay rise to keep pay in line with similar workers workers need high pay to match higher cost of living
52
Define real income
income adjusted for inflation
53
Factors affecting strength of trade union (6)
level of economic activity profitability proportion of firm's labours which are unionised level of skill of job level of consistent demand for product produced by workers whether government legislation is favourable
54
Define industrial action
workers disrupting production to put pressure on employers to agree to their demands
55
Define strike
workers not working to put pressure on employer to agree to their demands
56
Define "work to rule"
workers undertaking tasks required by their contracts
57
How can strike action be measured (3)
number of strikes number of workers involved number of working days lost
58
Define an official strike
strike approved/organised by trade union
59
Define an unofficial strike
strike not approved by trade union
60
Benefits of trade union membership (4)
provide communication between workers and firms improve productivity reduce conflict decreased labour turn over
61
Disadvantages of trade union membership (2)
firms harmed by industrial action strikes can decrease productivity
62
What might trade unions pressure governments about (4)
political representation of workers maternity/paternity rights minimum wage tax breaks for low income workers
63
Name types of industrial action (4)
strike protest outside workplace/in public places "go start" "work to rule"
64
Define a "go start"
working deliberately slowly
65
Define "derived demand"
demand for workers comes from demand of goods produced

Economics (4 decks)

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