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