How can we help?

You can also find more resources in our Help Center.

30 terms

Economics: Chapter 12

STUDY
PLAY
Civilian Labor Force
total number of people 16 years old or older who are either employed or looking for work
Blue-Collar Workers
category of workers employed in crafts, manufacturing, and non-farm labor
White-Collar Workers
category of workers employed in offices, sales, or professional positions
Service Workers
people who provide services directly to individuals
Unskilled Workers
people whose jobs require no specialized training.
Semiskilled Workers
people whose jobs require some training, often using modern technology
Skilled Workers
people who have learned a trade or craft either through a vocational school or as an apprentice to an experienced worker
Professionals
highly educated individuals with college degrees and usually additional education or training
Factors that Determine Wages
skill, type of job, location
Skill
talent, initiative, education and/or training, or experience
Type of Job
affects the amount the employer is willing to pay and a potential employee is willing to accept
Location
scarce area=higher wage
heavily populated area=low wages
Minimum Wage
federal law that sets the lowest legal hourly wage rate that may be paid to certain types of workers
Labor Union
association of workers organized to improve wages and working conditions for its members
Strike
deliberate work stoppage by workers to force an employer to give in to their commands
Craft Union
union made up of skilled workers in a specific trade or industry
Industrial Union
union made up of all the workers in an industry regardless of job or skill level
Closed Shop
company in which only union members could be hired
Union Shop
company that requires new employees to join a union after a specific period of time
Agency Shop
company in which employees are not required to join the union, but must pay union dues
Local Union
members of a union in a particular factory, company, or geographic area
Right to Work Laws
state laws forbidding unions from forcing workers to join and pay union dues
Collective Bargaining
process by which unions and employers negotiate the conditions of employment
Cost-of-Living Adjustment
provision calling for a wage increase each year if the general level of prices rises
Mediation
a neutral person tries to get both sides to reach an agreement during negotiations
Arbitration
union and management submit the issues they cannot agree on to a third party for a final decision
Picketing
action of strikers who walk in front of a workplace carrying signs that state their disagreement with the company
Boycott
economic pressure exerted by unions urging the public not to purchase the goods or services produced by a company
Lockout
situation that occurs when management prevents workers from the returning to work until they agree to a new contract
Injunction
court order preventing some activity