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Final Review

Learn about methods for resolving labor disputes such as arbitration, fact-finding, strikes, and lockouts. Understand the impact on employees, employers, customers, and the community. Discover reasons for the decline in union membership.

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Final Review

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Presentation Transcript

  1. Final Review Economics

  2. When a neutral third party’s recommendation to end a labor dispute is binding: • Arbitration

  3. What method of settling a labor dispute would most likely be used when trust between disputing parties breaks down • Fact finding

  4. From where does the ultimate power of a union come? • Strike

  5. List all groups hurt by a strike: • Employees • Employer • Customers • Community (sometimes)

  6. Refusal to buy a company’s products is called: • Boycott

  7. Company’s response to a strike when refuses to allow strikers back until labor dispute is resolved • Lock out

  8. Why has union membership declined over the last decades? • Victims of own success • Growing bad reputation

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