Economics of Work and Leisure p1 defs

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  • Created by: msotnyk
  • Created on: 31-03-15 19:05
Earnings
wages plus overtime pay, bonuses and commission
1 of 20
Economically inactive
working age people who are neither in employment, nor unemployed, and so are not part of the labour force
2 of 20
Labour force participation
the proportion of working age people who are economically active
3 of 20
employment rate
the proportion of working-age people who are in work
4 of 20
G8 (now G7)
the group of major economies consisting of Canada, France, Germany, Italy, Japan, Russian (not anymore), the UK and USA
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part-time workers
people working less than 30 hours a week
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Temporary work
casual work, seasonal work, working for employment agencies, fixed-period contract work
7 of 20
homeworking
working either at home or in different places away from the central office, production or distribution facilities, using the home as a base
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teleworking
working using a telephone and a computer at home, in an Internet cafe, or a train or plane
9 of 20
Occupational segregation
the dominance of an occupation by one gender
10 of 20
Primary sector
the first stage of production, including industries such as agriculture, fishing, forestry and mining, involved in the extraction and collection of raw materials
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Secondary sector
the second stage of production, which involves the processing of raw materials into semi-finished and finished goods. It includes manufacturing and construction
12 of 20
Tertiary sector
the third stage of production, which covers industries producing services including education, financial services, health care and tourism
13 of 20
tax wedge
the gap between what employers pay for labour and what workers receive in disposable income
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outsourcing
subcontracting part of the production process to another firm
15 of 20
offshoring
transferring part of the process to another country. The production may be outsourced or may be undertaken by the firm but in another country
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leisure
it is an experience that occurs outside working hours within the time when people are free to select what they do
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tourism income multiplier
he extent to which a change in income from tourism causes GDP to change
18 of 20
monopoly
a single seller
19 of 20
market concentration ratio
the percentage share of the market of a given number of firms
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Other cards in this set

Card 2

Front

working age people who are neither in employment, nor unemployed, and so are not part of the labour force

Back

Economically inactive

Card 3

Front

the proportion of working age people who are economically active

Back

Preview of the back of card 3

Card 4

Front

the proportion of working-age people who are in work

Back

Preview of the back of card 4

Card 5

Front

the group of major economies consisting of Canada, France, Germany, Italy, Japan, Russian (not anymore), the UK and USA

Back

Preview of the back of card 5
View more cards

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