IGCSE Economics Paper-2: Specimen Questions with Answers 77 - 77 of 100

Passage

Employers which recognize a union will negotiate with it over members’ pay and conditions.

Question 77 (1 of 5 Based on Passage)

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Short Answer▾

What you mean by collective bargaining?

Explanation

  • Workers in an organization are given an opportunity to influence or take part in managerial decisions at the higher level through work councils. Participation may also be at lower levels at which workers are given some authority to plan and take decisions about their work, like job enrichment, hob enlargement, delegation, etc.
  • Participation is the result of an enterprise through profit sharing or some schemes does not, in real sense of management. Workers participation in management is in different forms. One such is Collective Bargaining.

It is common to decide certain matters, especially those which have been direct economic significance for workers, on the basis of collective bargaining. The growth of trade unionism, the workers awareness of their rights and strength and the recognition of the importance of negotiations by labor and management has contributed to the growth of collective bargaining. Some of the common subject matters of collective bargaining are-

  • Wages
  • Bonus

  • Working conditions

  • Welfare matters.

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