Kirk Test Ch 12

  1. Civilian labor force
    total number of ppl 16yrs old or older who are either employed or actively seeking work
  2. blue collar workers
    category of workers employed in crafts, manufacturing, and nonfarm labor
  3. white collar workers
    category of workers employed in offices, sales or proffessional positions
  4. service workers
    ppl who provide services directly to individuals
  5. unskilled workers
    ppl whose job require no specialized training
  6. semiskilled workers
    ppl whose job requires some training often using modern technology
  7. skilled workers
    ppl who have learned a trade or craft either through vocational school or as an apprentice to an experienced worker
  8. professionals
    highly educated individuals with college degrrees and usually additional education or training
  9. minimum wage law
    federal law that sets the lowest legal hourly wage rate that maybe paid to certain types of workers
  10. labor union
    association of workers organized to improve wages and working conditions for its members
  11. strike
    deliberate work stoppage by workers to force an employer to give in to their demands
  12. craft union
    made up of skilled workers in a specific trade or industry
  13. industrial union
    union made up of all the workers in an undustry regardless of job or skill level
  14. local union
    members of a union in a particular factory, company, or geographical area
  15. closed shop
    company in which only union members could be hired
  16. union shop
    company that requires new employees to join a union after a specific period of time
  17. agency shop
    company in which employers arent required to join the union but must pay the union dues
  18. right to work laws
    state laws forbidding unions from forcing workers to join and pay union dues
  19. collective law gaining
    process by which unions and employees negotiate the conditions of employment
  20. cost of living adjustment COLA
    provision calling for an additional wage increase each year if the general lever of prices rises
  21. mediation
    a neutral person tries to get both sides to reach an agreement during negotiations
  22. arbitration
    union and management submit the issues they cannot agree on to a third party for final question
  23. picketing
    action of strikers who walk in front of a work place carrying signs that state their disagreement with the company
  24. boycott
    economic pressure exerted by unions urging the public not to purchase the goods or services produced by a company
  25. lockout
    situation that occurs when management prevents workers from returning to work until they agree to a new contract
  26. unjunction
    court order preventing some activity
  27. sources for business finance
    • commercial banks
    • small business admin-fed gvt agency
    • family
    • franchise co's
  28. 4 steps of production
    • planning-where/how
    • purchasing-using consumer skills in business
    • quality control-making sure your product is good
    • inventory control-LIFO,FIFO, shelf life,inventroy costs
  29. production theories
    • assembly line
    • demming style management-cross training
    • automation(fewer workers but more intelligent +skilled workers)
Card Set
Kirk Test Ch 12
kirk test chapter twelve