| A | B |
|---|
| labor force | all people who are at least 16 years old and are working or actively looking for work |
| wage | hourly, weekly, monthly, or yearly pay that a worker receives in exchange for his or her labor |
| intrinsic reward | nonmonetary rewards for working at a particular job |
| derived demand | The demand for workers and other resources follows consumers' demand for the good |
| industrialization | The process of mechanizing all major forms of production |
| capital-intensive | Dependent on machines to produce goods |
| labor-intensive | Producing goods primarily through animal and human power |
| affirmative action | Making up for patterns of discrimination against women, members of minority groups, and others who were traditionally disadvantaged in the workplace |
| quota | numerical goals, for hiring and promoting women and minorities |
| civilian labor force makes up about | 98% of all people in the U.S. who are working or looking for work |
| The six factors that affect a worker's job choice are | wages, skills, working conditions, location, intrinsic rewards, market trends |
| Supply and demand affect the price of | labor, or workers' wages |
| Hazardous occupations sometimes pay | higher wages than those jobs with low risks to life and limb |
| What factors have caused changes in the labor force | capital-intensive economy, women in the labor force, higher education levels |
| Government legislation passed to ensure that workers are paid a basic level of income | Minimum Wage Laws |
| Today what percentage of employees are coverd by the minimum wage laws? | 80 percent |
| labor union | an organization of workers that negotiates with employers for better wages, improved working conditions, and job security |
| open shops | businesses where business owners did not have to join a union to be hired |
| closed shops | businesses where employees could only be hired if they first joined a union |
| Forms of Union Organization | local, national, independent |
| 3 Major Reasons for the Decline in Union Membership | employer opposition, changes in employment patterns, negative public opinion |
| fringe benefits | nonwage payments, commonly including paid sick days, holidays, and vacation days; helath and life insurance; and savings and retirement plans. |
| seniority | the holding of priviledges based on the number of years a worker has been employed by a firm |
| collective bargaining | union and management representatives meet to discuss their goals and offer solution and compromises |
| mediation | negotiators call in a neutral third party, or mediator, to listen to the arguments of both sides and to suggest ways in which an agreement may be reached |
| arbitration | calls for the assistance of a negotiator to arrive at a contract |
| strike | union members working until contract demands are met |
| primary boycott | an organized effort to stop purchases of a firm's products |
| secondary boycott | a refusal to buy the goods or services of any firm that does business with a company whose employees are on strike |
| coordinated campaigning | the use of picketing as well as boycotting |
| lockout | occurs when an employer closes a company's doors to striking workers until negotiators reach a contract agreement that is satisfactory to management |
| injunction | court order, to prohibit the dispatchers from striking |
| Union tactics | picketing, boycotting, coordinated campaigning |
| Three common management actions | hiring replacement workers, introducing a lockout, asking for an injunction |
| What are the advantages of collective bargaining | one-on-one negotiating, experiences negotiator, powerof unity |
| What are the disadvantages of collective bargaining | breakdown of communication, not all desires represented, loss of control |
