Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
17 Cards in this Set
- Front
- Back
|
Labor force |
All nonmilitary people who are employed or unemployed |
|
|
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 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 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 or 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 meets 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 skills and education |
|
|
Skilled labor |
Work that requires specialized skills and training |
|
|
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 |
|
|
Featherbedding |
The practice of negotiating labor contracts that keep unnecessary workers on a company's payroll |
