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Commerce > Employment Vocabulary > Flashcards

Employment Vocabulary Flashcards

1
Q

Apprentice

A

A person who has agreed to work for a master of the trade, and gain practical experience and knowledge in their field of interest for a lower wage.

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2
Q

Apprenticeship

A

Training/education in a trade.

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3
Q

Arbitration

A

A method of resolving disputes between employers and employees in a court with an unbiased 3rd party.

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4
Q

Award

A

A document outlining a worker’s minimum pay and conditions.

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5
Q

Casual

A

Employed on an hourly, “as-needed” basis.

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6
Q

Chief Executive Officer (CEO)

A

The most senior person in charge of managing an organisation.

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7
Q

Collective wants

A

Goods and services that are used for the whole community.

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8
Q

Common law (employment) contracts

A

When an employer and employee negotiate a contract that covers pay and conditions.

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9
Q

Discrimination

A

Treating a person less fairly/nicely because of groups they belong to/ things they believe in.

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10
Q

Economy

A

All activities undertaken for the purpose of production, distribution and consumption of goods/services in a country.

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11
Q

Employee

A

A person who works for a wage/salary.

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12
Q

Employer

A

A person who hires employees.

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13
Q

Employment contract

A

Formal and legally binding agreement between an employer and employee.

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14
Q

Enterprise agreement

A

Agreement about pay/conditions made at a workplace/enterprise level.

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15
Q

Entitlements

A

Non-wage benefits.

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16
Q

Full-time

A

Continuous, ongoing employment working 38+ weekly hours.

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17
Q

Goods and Services Tax (GST)

A

Value-added tax levied on most goods/services sold for domestic purposes. Paid by consumers but passed on to the government by businesses.

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18
Q

Industrial action

A

Temporary show of unhappiness by employees

19
Q

Labour force

A

Everyone above 15 who is employed or unemployed (looking for work)

20
Q

Loading

A

Extra pay on top of the full-time pay rate for casual employees who don’t receive entitlements.

21
Q

Participation rate

A

The percentage of people working age who are working or looking for work.

22
Q

Part-time

A

Ongoing employment with less than 38 hrs per week.

23
Q

Primary industry

A

Industry involved in growing/extracting natural resources

24
Q

Pro-rata

A

Proportional to full-time benefits in relation to hours worked.

25
Q

Quaternary industry

A

Industry involved in the transfer and processing of information and knowledge.

26
Q

Quinary industry

A

Industry providing domestic services.

27
Q

Redundancy

A

Termination of employment because the employee’s role is no longer required/the employer goes bankrupt.

28
Q

Seasonal

A

Employment that is not continuous year-round but reoccurs.

29
Q

Secondary industry

A

Industry involved in turning raw materials into finished products.

30
Q

Sharing economy

A

AKA collaborative consumption, involves people sharing their possessions for payment

31
Q

Standard of living

A

The degree of wealth and material comfort available.

32
Q

Superannuation

A

Money set aside whilst you work by your employer to fund your retirement.

33
Q

Taxes

A

Part of income that’s taken by the government to pay for collective goods/services.

34
Q

Tertiary industry

A

An industry that provides a service to others.

35
Q

Unemployment

A

When people are trying to find work but have been unsuccessful so far.

36
Q

Wellbeing

A

Being comfortable, happy and healthy.

37
Q

Work-life balance

A

Achieving the right balance between the time spent on work and personal life.

38
Q

Conciliation

A

Similar to mediation except the conciliator can suggest possible solutions

39
Q

Gender segregation

A

The physical/legal/cultural separation of people according to their sex

40
Q

Grievance procedures

A

Predetermined steps followed to resolve a dispute (employment)

41
Q

Industry

A

Area of economic activity/employment/trade/manufacturing/production/gathering of resources

42
Q

Mediation

A

When a 3rd party helps those involved in a dispute to negotiate a solution acceptable for both sides

43
Q

Negotiation

A

Method of resolving disputes where the parties discuss issues and try to compromise

44
Q

Unfair dismissal

A

Employment termination considered to be harsh/unreasonable/unjust

Commerce (8 decks)

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