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economics chapter 9 vocabulary

Terms in this set (26)

labor union
an org. of workers that tries to improve working conditions, wages, and benefits for its members
strike
an org. work stoppage intended to force an employer to address union demands
industrial union
an org. of workers in a variety of occupations within a single industry
craft union
an org. of workers in a single occupation, or craft
right to work law
a measure that bans mandatory union membership
white collar worker
someone in a professional or clerical job who usually earns a salary
blue collar worker
someone who works in an industrial job, often in manufacturing, and who receives wages
closed shop
a workplace that hires only union members
union shop
a workplace that will hire nonunion members but requires them to join the union within a certain period of time
agency shop
a workplace that will hire nonunion workers and does not require them to join the union
collective bargaining
the process in which union and company representatives meet to negotiate a new labor contract
mediation
a settlement technique in which a neutral mediator meets with each side to try to find a solution that both sides will accept
arbitration
a settlement technique in which a third party reviews the case and imposes a decision that is legally binding for both sides
labor force
all nonmilitary people who are employed or unemployed
productivity
value of output
equilibrium wage
the wage rate that produces neither an excess supply of workers nor an excess demand for workers in the labor market
unskilled labor
labor that requires no specialized skills, education, or training
semi-skilled labor
labor that requires minimal specialized skills and education
skilled labor
labor that requires specialized skills and training
professional labor
labor that requires advanced skills and education
affirmative action
the use of policies, programs, and procedures to ensure the inclusion of minorities and women in job training, college admission, and the awarding of gov. contracts.
glass ceiling
An invisible barrier that separates women and minorities from top management positions
featherbedding
The practice of negotiating labor contracts that keep unnecessary workers on a company's payroll
learning effect
the theory that education increases productivity and results in higher wages
screening effect
the theory that the completion of college indicates to employers that a job applicant is intelligent and hard working
contingent employment
a temporary or part-time job
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