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effectiveness of trade unions in developing countriestrade unions in developing countries tend to be less effective in their wage negotiations with
factors affecting the ability of trade unions to gain larger wage increases for its membersthe basic factor is elasticity of demand for the type of
weapons of conflictthe trade unions and the employers or their associations have many ways of enforcing their demands on each other they
the basis of wage claimsthe unions demand for higher wages is normally based on one or more of the following four arguments1 the cost of living
kinds of bargaining arrangementsbasically there are three kinds of bargaining arrangements namelyopen shopin an open shop a union represents its
collective bargainingcollective bargaining refers to the whole process by which trade unions and employers or their representatives arrive at an
trade unionstrade unions are workers organizations whose objective is to protect the interests of their membersfunctionsi to
the comparability principleassociations representing workers providing services - clerical postal teaching etc - have always attempted to apply
the institutional intervention theoriescollective bargaining provides an example of what is sometimes called bi- lateral monopoly the trade union
real and nominal wageswages are wanted only for what they will buy real wages being wages in terms of the goods and services that can be bought with
theories of wage determinationearly theories about wagesthe earliest theories about wage determination were those put forward by thomas malthus david
wage determination policy and theorieswages and salaries are rewards to labour as a factor of production of goods and services in ordinary speech
an optimum populationcountries are often described as under populated or overpopulated from the economists viewpoint these terms do not refer to
the economics of populationpopulation issues became matters of economic concern when it became increasingly apparent that the problem of excess
the structure of population and supply of labourthe structure also called age distribution or composition of population or the number of people in
population size and demographic trendsa changes in populationthe people of a country are its consumers they provide the
interest and the keynesian liquidity preference theoryinterest is a factor income in that it is considered to be payment to or return on capital in
capital marketsmarkets in which financial resources money bonds stocks are traded ie the provision of longer term finance - anything from bank loans
function of money marketsthe money markets are the place where money is wholesaled as such the supply of money and interest rate which are of
money marketsthe expression money markets is used to refer to the set of institutions and individuals who are engaged in the borrowing and lending of
limits on the process of bank deposit creationon the demand side there may be a lack of demand for loans or at least of borrowers who are
bank depositbank notes and coins together constitute the currency in circulation but they form only a part of the total money supply the
functions of commercial banksin modern economy commercial banks have the following functionsi they provide a safe deposit for money and
commercial banksa commercial bank is a financial institution which undertakes all kinds of ordinary banking business like accepting deposits