t6 - influence of trade unions

Question 1

economic rent

Answer 1

the difference between the actual wage and the wage expected by labour to keep its occupation

Question 2

transfer earnings

Answer 2

the minimu mreward required to keep labour in its present occupation

Question 3

transfer earnings

Answer 3

the minimu mreward required to keep labour in its present occupation

Question 4

what si transfer earnings shwon by

Answer 4

area under supply of labour curve and market equilibrium

Question 5

trade union markup

Answer 5

additonal money made by memebers of a tu vs what they wouldve made withotu one

Question 6

where is economci rent shown on graoh

Answer 6

area above supply curve and wage equilibrium

Question 7

what do trade uniosn act as

Answer 7

monopsony seller of laboru, they aim to icnrease wages

Question 7

functions of a trade union

Answer 7

represent workers regarding pay and conditions
bargain for higjer wages
cordinate with firms
proetcting workers
pension rights
countering monospony pwoer

Question 8

factors infleucnign trade union power

Answer 8

macro climate
public support
union density
legislation
consequcnes of action
globilisation adn pwoer of mcs

Question 9

what do trade uniosn do in competitve markets

Answer 9

increase unemplyment, due too them askign for higher wgaes, less people are unemplyed

Question 10

trade unions in a monsopny

Answer 10

can cause for a higher wage and keep level of emplyment

Question 11

efficency wage theory

Answer 11

higehr wages leadign to higehr productivity

Question 12

producitvity deals

Answer 12

trade uniosn may be able to bargainf or higher wages in retrunign for improvign prdocutivity

Question 13

adv of trade unions

Answer 13

counter balance monospony
represent workers
productivity deals
co opertion
effciency wage theory

Question 14

disadv of tu

Answer 14

unemplyment - in comp markets
cost push inflation
time lost to strike
confrontation, disputes

Question 15

wher will a trade union riswages too

Answer 15

the point at where the mc of laboru = mrp

Question 16

what will trade unions do in comeptitive laboru markets

Answer 16

cause excess supply and lower demand

hence unemployment

Question 17

how does legislation affect trade union influence

Answer 17

in the ast workers had tio be in a union

vant strike in symapthy for others

ballot neccessary to stirke

all affect abiltiy to do stuff

Question 18

how does financial consequence affect trade union power

Answer 18

if financial cosneuqnece to firm is big then bgi affct

Question 19

how does gloabislation affect trade union power

Answer 19

as more gloabislation mncs may be abe to outsource production