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;
4 Cards in this Set
- Front
- Back
|
Prevent the "normal" market supply and demand of the competitive situation from working perfectly. |
Sets a minimum price - the wage becomes a horizontal supply curve - resulting in fewer workers being employed at a higher price. |
|
|
Unions restrict the supply of labour in order to increase wages. |
Passing a test/exam. Certain grades. |
|
|
Unions increase the demand for the workers - |
Campaign for lower class sizes, improve health and safety of railways (more maintenance workers) |
|
|
Unions reduce productivity - |
by demanding and getting over staffing in industries - Royal mail and tube. I.e. not letting capital or technology take over - creative destruction. |
