Advantages of Trades Unions.
1. Increase wages for its members.
Industries with trade unions tend to have higher wages than non-unionised industries.
2. Counterbalance Monopsonies.
In the face of Monopsony employers, Trades Unions can increase wages and increase employment. Monopsony employers are those who have market power in setting wages and employing workers. Traditionally, monopsonies occur when there is only 1 firm in a town, or type of employment. However, in modern economies, many employers have a degree of market power (monopsony).
3. Represent Workers
Trades Unions can also protect workers from exploitation, and help to uphold health and safety legislation. Trades unions can give representation to workers facing legal action.
4. Productivity deals.
Trades Unions can help to negotiate productivity deals. This means they help the firm to increase output; this enables the firm to be able to afford higher wages. Trades unions can be important for implementing new working practices which improve productivity.
5. Important for Service Sector.
Modern economies have seen a fall in trade union power. This is because of a decline in manufacturing and rise in service sector employment. Service sector jobs tend to more likely to be part time and temporary; unions are needed to protect workers in these kind of jobs.
Problems of Trades Unions.
1. Create Unemployment.
If labour markets are competitive, higher wages will cause unemployment. Trades unions can cause wages to go above equilibrium through the threat of strikes e.t.c. However when the wage is above the equilibrium it will cause a fall in employment.
2. Ignore non Members
Trades unions only consider the needs of its members, they often ignore the plight of those excluded from the labour markets, e.g. the unemployed.
3. Lost Productivity.
If unions go on strike and work unproductively (work to rule) it can lead to lost sales and output. Therefore their company may go out of business and be unable to employ workers at all.
4. Wage Inflation.
job creation
An advantage of international trade in context to India is increase in the collection taxes for the utilization of its government. A disadvantage, on the other hand, is that local farmers cannot compete with the lower price of agricultural goods from international trade, thus lower income for the agricultural sector.
The trade blocs can be stacked up and fit into a small closet.
explain the advantages and disadvantages of active trade union movement to employers,employee and the economy?
One advantage to international hotels is the fact that they make you feel like you are still at home. The disadvantage is that international hotels are generally expensive.
job creation
advantages of foreign trade multiplier
disadvantage of documentary credit payment method of international trade advantage and disavantage of advance payment method of international trade advantage and disavantage of bills of collection payment method of international trade
There are a number of advantages and disadvantages to the fair trade system. Advantages include fair wages, a higher profit, and safer working conditions. Disadvantages of fair trade include the cost of certification and the favoring of co-ops over individuals.
An advantage of international trade in context to India is increase in the collection taxes for the utilization of its government. A disadvantage, on the other hand, is that local farmers cannot compete with the lower price of agricultural goods from international trade, thus lower income for the agricultural sector.
Well, without trade, you would have to find/produce/beg for everything you need or want all by yourself. It is very difficult to live without at least some trading.As for disadvantages, well this is...
The advantages are that you can learn new skills in a particular trade and you gain a qualification in that trade. One of the disadvantages is that your pay rate might not be that good while you are an apprentice
The advantages are that you can learn new skills in a particular trade and you gain a qualification in that trade. One of the disadvantages is that your pay rate might not be that good while you are an apprentice
what are advantages and disadvantages of harmonisation of accounting standards
the advantages was that they ave the right to access trade from place to place.
Benefit is to maximise international relationships
There are many advantages and disadvantages when you hear Cambodia joining Asian. The advantages are expanding free trade and communications technology. While the disadvantages are a slight chance of the economics not working out.