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Economics, Chap. 9 vocab.

AB
labor unionan organization of workers that tries to improve working conditions, wages, and benefits for its members
strikean organized work stoppage intended to force an employer to address union demands
industrial unionan organization of workers in a variety of occupations within a single industry
craft unionan organization of workers in a single occupation, or craft
right-to-work lawa measure that bans mandatory union membership
blue-collar workersomeone who works in an industrial job, often in manufacturing, and who receives wages
white-collar workersomeone in a professional or clerical job who usually earns a salary
closed shopa workplace that hires only union members
union shopa workplace that will hire nonunion memabers but requires them to join the union within a certain period of time
agency shopa workplace that will hire nonunion workers and does not require them to join the union
collective bargainingthe process in which union and company representatives meet to negotiate a new labor contract.
mediationa settlement technique in which a neutral mediator meets with each side to try to find a sollution that both sides will accept
arbitrationa settlement technique in which a third party reviews the case and imposes a decision that is legally binding for both sides.
labor forceall nonmilitary people who are employed or unemployed
productivityvalue of output
equilibrium wagethe wage rate that produces neither an excess supply of workers nor an excess demand for workers in the labor market
unskilled laborlabor that requires no specialized skills, educaiton , or training
semi-skilled laborlabor that requires minimal specialized skills and education
skilled laborlabor that requires specialized skills and training
professional laborlabor that requires advanced skills and education.
affirmative actionthe use of policies, programs, and procedures to ensure the inclusion of minorities and women in job hiring, college admission, and the awarding of government contracts
glass ceilingan unofficial, invisible barrier that prevents women and minorities from advancing in businesses dominated by white men
featherbeddingthe practice of negotiating labor contracts that keep unnecessary workers on a company's payroll
learning effectthe theory that education increases productivity and results in higher wages.
screening effectthe theory that the completion of college indicates to employers that a job applicant is intelligent and hard-working
contingent employmenta temporary or part-time job


Resource Room 12/Consultant Teacher
Greenville High School

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