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Economics > Workers and Trade Unions > Flashcards

Workers and Trade Unions Flashcards

1
Q

Name wage factors (4)

A

wages

overtime pay

bonuses

commision

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2
Q

Define earnings

A

total pay received by worker

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3
Q

Define wage rate

A

wage worker receives per unit of output/time

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4
Q

Define a time rate system

A

wages based on number of hours worked

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5
Q

Define a piece rate system

A

wages based on amount workers produce

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6
Q

Define overtime pay

A

pay to workers that work more than usual working week

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7
Q

Benefits of overtime pay (3)

A

employers can respond to higher demand without hiring new workers

employees can earn more

easier for employers to reduce overtime than fire workers

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8
Q

Disadvantages of overtime pay (3)

A

workers may become tired

productivity may decrease

product quality may decrease

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9
Q

Define a bonus

A

extra payment

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10
Q

Purpose of bonuses (2)

A

reward workers who contribute to higher profits

provide incentive for workers

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11
Q

Disadvantages of bonuses

A

can cause resentment for not receiving bonus

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12
Q

Define commision

A

workers receive proportion of sales value they make

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13
Q

Name non-wage factors (6)

A

Job satisfaction

Type of work

Working conditions

Fringe Benefits

Job security

Career prospects

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14
Q

Define fringe benefits

A

benefits provided to workers by employers

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15
Q

Examples of fringe benefits (3)

A

meals

healthcare

leisure facilities

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16
Q

Define job security

A

how easily workers are likely to become redundant

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17
Q

Name limiting factors of jobs (6)

A

opportunity cost

education/qualifications

poverty

discrimination

age

physical ability

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18
Q

Unskilled workers are paid more than skilled workers

True or False?

A

False

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19
Q

Determinants for demand of workers (5)

A

productivity

price of output

cost of capital

demand of product

size/profitability of firm

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20
Q

Determinants of wages (5)

A

demand and supply

Bargaining power of workers

Government Policies

Public opinion

Discrimination

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21
Q

Name government policies/actions that can change wage rates (5)

A

National Minimum Wage

improved education

immigration policies

anti-discrimination laws

technology

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22
Q

Causes of changes in the supply of labour (5)

A

change in labour force

change in qualifications to do job

degree of risk

change in non-wage benefits of job

change in (non)wage benefits of other jobs

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23
Q

Why may wages change over time? (6)

A

Change in demand/supply of labour

Changes in stages of production

Changes in bargaining power

Changes in government policy

Changes in public opinion

Changes in individuals earnings over time

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24
Q

Primary sector workers are generally paid less than secondary and tertiary sector workers

True or False?

A

True

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25
Q

Why are workers paid less in the primary sector

A

workers have less skills/qualifications

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26
Q

Define the primary sector (2)

A

extraction/collection of raw materials

first stage of production

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27
Q

Examples of primary sector industries (3)

A

agriculture

mining

fishing

28
Q

Define the secondary sector

A

processing of raw materials into finished/semi-finished goods

29
Q

Examples of secondary sector industries (3)

A

clothing

steel

electronics

30
Q

Define the tertiary sector

A

producing services

31
Q

Examples of the tertiary sector (3)

A

banking

tourism

hospitality

32
Q

How does education increase wage rate

A

increases their demand as they are now more skilled

33
Q

Define elasticity of demand for labour

A

responsiveness of demand of labour to change in wage rate

34
Q

Define elasticity of supply of labour

A

responsiveness of supply of labour to change in wage rate

35
Q

Determinants for elasticity of demand for labour (4)

A

proportion of labour costs in total costs

ease of labour to be substituted for capital

elasticity of demand for product produced

time period

36
Q

Determinants of elasticity of supply of labour (5)

A

qualifications/skills required

level of employment

mobility of labour

degree of vocation (attachment)

time period

37
Q

Why is demand for labour more elastic in the long run

A

more time for firms to change production methods

38
Q

Why is supply for labour more elastic in the long run (2)

A

more time for workers to notice change in wages rate

more time for workers to gain qualifications

39
Q

Define specialisation

A

concentration on particular products/tasks

40
Q

Define division of labour

A

workers specialising in particular tasks

41
Q

Advantages of division of labour (5)

A

workers become very good at doing same task over and over again

trained more efficiently

less time consumed as workers don’t have to move from one job to another

can earn high wages from their skills being in high demand

workers can pursue their specific interests

42
Q

Disadvantages of division of labour (4)

A

workers can get bored

workers may not put in effort and make mistakes

specialised workers are occupationally immobile as they are only trained for one job - may be difficult for them to get another job

more difficult to replace specialised workers

43
Q

Define trade union

A

associations of workers formed to represent their interests

44
Q

Name the 4 main types of trade unions

A

Craft Unions

General Unions

Industrial Unions

White collar unions

45
Q

Define craft unions (2)

A

represent workers with particular skills

e.g plumbers and weavers

46
Q

Define general unions

A

represent workers with a range of skills/industries

47
Q

Define industrial unions

A

represent workers in a particular industry

48
Q

Define white collar unions

A

represent particular professions

49
Q

Functions of trade unions (4)

A

negotiate for higher wages

negotiate for more job security

negotiate for better working conditions

negotiate for more fringe benefits

50
Q

Define collective bargaining

A

representative of workers negotiating with employers’ associations

51
Q

Arguments trade unions put up (4)

A

increases productivity

firms with increased profits can afford higher wages

workers should receive pay rise to keep pay in line with similar workers

workers need high pay to match higher cost of living

52
Q

Define real income

A

income adjusted for inflation

53
Q

Factors affecting strength of trade union (6)

A

level of economic activity

profitability

proportion of firm’s labours which are unionised

level of skill of job

level of consistent demand for product produced by workers

whether government legislation is favourable

54
Q

Define industrial action

A

workers disrupting production to put pressure on employers to agree to their demands

55
Q

Define strike

A

workers not working to put pressure on employer to agree to their demands

56
Q

Define “work to rule”

A

workers undertaking tasks required by their contracts

57
Q

How can strike action be measured (3)

A

number of strikes

number of workers involved

number of working days lost

58
Q

Define an official strike

A

strike approved/organised by trade union

59
Q

Define an unofficial strike

A

strike not approved by trade union

60
Q

Benefits of trade union membership (4)

A

provide communication between workers and firms

improve productivity

reduce conflict

decreased labour turn over

61
Q

Disadvantages of trade union membership (2)

A

firms harmed by industrial action

strikes can decrease productivity

62
Q

What might trade unions pressure governments about (4)

A

political representation of workers

maternity/paternity rights

minimum wage

tax breaks for low income workers

63
Q

Name types of industrial action (4)

A

strike

protest outside workplace/in public places

“go start”

“work to rule”

64
Q

Define a “go start”

A

working deliberately slowly

65
Q

Define “derived demand”

A

demand for workers comes from demand of goods produced

Economics (4 decks)

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