They are national organisations whose role is to protect the welfare of their members in terms of economic wellbeing and working conditions.
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What are the roles of trade unions?
Representing employees in negotiations on pay & working conditions, collective barganing to increase wages, protect members when changes are being made that threatens job security, support members during disciplinary or greivance procedures
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What are the roles of trade unions? pt 2
Improves pay & working conditions, takes industrial action to withdraw the supply of labour, push wage rates up through negotiations.
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What is minimum wage?
National Minimum Wage Act 1998-- businesses must pay at least a minimum wage per hour for a job?
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What are the arguements for minimum wage?
Encourages people to supply for labour, reduces inequalities, reduces welfare burden, increases aggregate demand, improves standards of living.
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What are the arguements against minimum wage?
May create unemployment--firms won't want to pay min. wage, interferes with the workings of the market mechanism leading to misallocation of resources, reduces UK competitiveness, lowers aggregate supply.
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What are the three sectors of production?
Primary, secondary & tertiary.
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What is the primary sector?
Where raw materials are produced.
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What is the secondary sector?
Where the product is made from raw materials.
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What is the tertiary sector?
Selling the products too consumers
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Other cards in this set
Card 2
Front
What are the roles of trade unions?
Back
Representing employees in negotiations on pay & working conditions, collective barganing to increase wages, protect members when changes are being made that threatens job security, support members during disciplinary or greivance procedures
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