1. What are the conditions one must meet to be considered part of the labor force?
2. List and explain each of the noncompeting categories of labor.
3. How are wages determined? Explain why a surgeon gets paid more then a waiter using economic terms and theories. (supply and demand). How can a person make themselves more scarce?
4. What is an intrinsic reward? When looking for a job explain why you should not only look at the monetary reward that job provides.
s. How is derived demand determined? According to derived demand what may be some jobs that are currently good to pursue?
6. What is affirmative action? Should it be used? Why or why not? Explain the use of quotas. What case declared there use unconstitutional?
What is a labor union? What were the first two labor unions? When did they begin? What do labor unions provide for their members?
§. List and explain the three major challenges facing unions today. Why are unions viewed as negative?
9. What is a fringe benefit? List what unions seek from management. How does seniority relate to job security?
10. What is collective bargaining? How does collective bargaining provide the unions with enormous power?
11. If the union and management cannot reach an agreement list and explain the three things the union does, and the three ways in which the management responds.