Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Wills Econ
Term Sheet 5 B
| Question | Answer |
|---|---|
| Labor Force | Total number of adults who are either employed or actively seeking work |
| Outsourcing | The practice of contracting with another company to do a specific job that would otherwise be done by a company's own workers. |
| Offshoring | The movement of some of a company's operations to another country. |
| Learning Effect | The theory that education increases efficiency of production and thus result in higher wages. |
| Contingent Employment | A temporary and part-time job. |
| Guest Workers | Members of the labor force from another country who are allowed to live and work in the United States only temporarily. |
| Derived Demand | A type of demand that is set by the demand for another good service. |
| Productivity of Labor | The quantity of output produced by a unit of labor. |
| Equilibrium Wage | The wage rate, or price of labor services, that is set when the supply of workers meet the demand for workers in the labor market. |
| Unskilled Labor | Work that requires no specialized skills, education, or training. |
| Semi-Skilled Labor | Work that requires minimal specialized skill and education. |
| Skilled Labor | Work that requires specialized skills and traning. |
| Professional Labor | Work that requires advanced skills and education. |
| Glass Ceiling | An unofficial barrier that sometimes prevents women and minorities from advancing to the top ranks of organizations dominated by white men. |
| Labor Union | An organization of workers that tries to improve working conditions, wages, and benefits for its members. |
| Strike | An organized work stoppage intended to force an employer to address union demand. |
| Right to Work Laws | A measure that bans mandatory union membership. |
| Blue Collar Workers | Employed in physical jobs such as manufacturing, construction, mining etc. |
| White Collar Workers | Usually employed in an office environment, such as managers, salesman, and other professional |
| Collective Bargaining | The process in which union and company management meet to negotitate a new labor contract. |
| Mediation | A settlement technique in which a neutral person, the mediator, meet with each side to try to find a solution that both sides will accept. |
| Arbitration | A settlement technique in which a neutral third party listens to both sides and then imposes a decision that is legally binding for both the company and the union. |
Created by:
deleted user
Popular Economics sets