Unionism Flashcards
Capitalism
Capitalism is an economic system where private entities own the factors of production.
Industrial Revolution
A major period of industrialisation and innovation
Industrialisation
A period of social and economic change when a group moves from an Agrain society to a mechanised one.
Profit
The money left over from a business after all expenditures have been deducted
Entrepreneur
An individual who creates their own business venture
Knobstick
Someone who refuses to join or withdraws from a trade union
Trade society
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Laisser-faire
An economic doctrine that opposes governmental regulation of or interference in commerce beyond the minimum necessary for a free-enterprise system to operate according to its own economic laws.
Artisan
Skilled worker with a specific trade
Journeyman
a person who has served an apprenticeship at a trade or handicraft and is certified to work at it assisting or under another person
Closed shop
Union Security agreement where the employer can only hire from members of the union and staff have to stay as union members whilst they work there
Cooperative move,ent
Where members buy a place together and have a say how it’s run, if it makes a profit members get a share of it.
Trade union
trade union is an association of workers forming a legal unit or legal personhood, usually called a “bargaining unit”, which acts as bargaining agent and legal representative for a unit of employees in all matters of law or right arising from or in the administration of a collective agreement.
Factory system
The system of producing goods on a large scale that replaces the individually crafted goods produced by artisans.
Cottage industry
A manufacturing system where goods are produced by family groups or individuals on a small scale.
