Lesson 23-The impact of changes in the supply and demand for labor and trade union activity in labor markets

Question 1

Define Trade Unions

Answer 1

These are organizations formed by workers to protect their interests.

Question 2

State 4 functions of a trade union

Answer 2

1.Negogiate pay and working conditions with employer
2. Provide legal protection
3.Pressurize governments to pass laws
4.Provide benefits such as redundancy payments.

Question 3

Define labor productivty

Answer 3

Refers to the efficiency and effectiveness of labor

Question 4

State the formulae to calculate labor productivity

Answer 4

Output/Number of workers

Question 5

State 3 ways to improve labor productivity

Answer 5

1.Government expenditure on education and training (HCI)
2.Rewarding employees for better performance which will motivate them to work harder
3. Providing better working conditions and new technology