Trade Unions Flashcards
1
Q
What is a trade union?
A
Organised group of employees who work together to represent and protect rights of workers usually by collective bargaining techniques
2
Q
What is a trade unions aim?
A
To gain better wages
Protect jobs
Improve pension rights
Protect against discrimination
Unsure health and safety
Counterbalance monopsony power
3
Q
Reasons trade unions memberships falling in the uk?
A
- Economic changes - such as shift from manufacturing to service
- Legal changes
- Changes in workforce demographics = more part time, temporary or gig economy
4
Q
What are some factors for the rise in gig economy
A
- technological advancements
- cost reduction for employers
- desire for work life balance
- entrepreneur opportunities
5
Q
What is monopsony employers
A
- some employers have monopsony power in some labour markets = eg: the government is the main employer health care workers
6
Q
What is bi-lateral monopoly?
A
Exists when a monopoly supplier of labour takes a monopsony buyer for labour
7
Q
Benefits for Trade Unions
A
- better wages and working conditions
- Lower wage equality
- ensures real wages are not eroded
- counterbalances monopsony power of employers
8
Q
What are the arguments trade unions?
A
- reduce employment flexibility
- present efficient working labour markets
- adds to business costs if wage is higher with no improvement
- reduced profits of companies
9
Q
A
