Economics

2. Money that is paid in form of addition to the salary is called __
5. The higher the percentage of workers from a firm that belong to a trade union, the greater the ___ bargaining power of that union with the employer
6. There are 4 Types of Trade Unions, General, Industrial, White Collar, and _ union
8. There are 4 functions of central bank. Banker to the ____ allows commercial banks to horror from central bank when they run into liquidity issues
9. ___ union represents skilled & unskilled workers in the same industry. Anyone in the industry can join, irrespective of skill level or seniority
11. The division of _ is when a task is broken up into several component tasks
12. Money provided a means of ___ value to different goods and services
13. Education provided highrr levels of skill & specialization to a worker. This increades their bargaining power relative to ___ workers
16. ____ vertical integration occurs when there's an involvement beteeen merger/takeover with a firm further backward in the supply chain
17. The labour market is a type of factor _

1. One of the advantages of horizontal integration is it reduced ____
3. ___ is defined as a monthly fee to join a trade union
4. ___ occurs when government-owned firman are sold to the private sector.
5. Higher productivity is important for a firm & economy as higher profits may mean that the government revenue from __ tax will increase
7. There are 6 characteristics of money, one of the characteristics is defined as the value of each denomination must be exactly the same. The description above matches ___
10. Spending in an economy is also called _
14. Disposable _ can either be saved or spent on goods/services
15. Firms will struggle to recruit workers if they offer __ wages