Trade unions Flashcards
1
Q
what are trade unions?
A
an organisation made up of workers who join together to maintain and improve their conditions of employment
2
Q
diagrammatic analysis?
A
they can force wages above the wage determination with collective bargaining power
3
Q
advantages of trade unions:
A
- increased wages for workers
- reduce income inequality
4
Q
disadvantages of tu’s:
A
- increased production costs for firms
- less fdi and business confidence
- firms relocate overseas (lower gdp as a result)
- potential unemployment
5
Q
what makes tu’s different from each other?
A
- degree of unionisation
- aims
- profits
- laws restricting tu’s
