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Frequently Asked Questions - trade union

FAQs - trade union

Key word "Discuss' Two sided discussion.

Potential disadvantages: 

  • there might be industrial action 
  • powerful unions/industrial action could lead to disruption of the economy 
  • this could lead to a firm going out of business, causing an increase in unemployment 
  • this could affect output and damage reputation of country 
  • powerful trade unions could lead to higher wages 
  • making products uncompetitive in world markets. 

Potential advantages:

  • can work with employers, not always against them 
  • can work with government, e.g. to support legislation. 

 

TAGS: trade union

Demand and supply diagram based on restricting supply

trade union effect on wages

Answer must include:

axes correctly labelled (wage/price and employment/quantity) (1) 

demand and supply curves correctly labelled (1) 

shift of supply curve to the left (1) 

rise in wage/price and fall in employment/quantity (1)

 

TAGS: wages

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