Term 3 Business Studies PDF

Business Studies Term 3: Created by Ms Marlize Marais  Trade Unions: A trade union is an organisation of workers that promotes and protects the interests of its members in issues such as wages and working conditions, especially through negotiations with employers. Trade unions...

Business Studies Term 3: Created by Ms Marlize Marais  Trade Unions: A trade union is an organisation of workers that promotes and protects the interests of its members in issues such as wages and working conditions, especially through negotiations with employers. Trade unions do not have to be registered with the Department of Labour, but registered unions have additional rights. A trade union is an organisation formed by workers to represent workers when they need to negotiate with their employers. A trade union is an organisation that protects the rights of workers. Trade unions are the link between employers, employees and the government. The trade unions work on behalf of employees to make sure that government legislation (set of laws) gives employees’ rights. Functions of a trade union Negotiate with employers for decent working conditions, remuneration and benefits for employees in order to improve their standard of living. Negotiate recognition of the union and the shop stewards by the employer. Represent the employees in meetings and disputes with employers. Protect employees from discrimination and abuse. Protect employees from unfair labour practice and unfair dismissal. Inform employees of their rights and how to enforce these rights. Take legal action on behalf of members when necessary.  COSATU: The Congress of South African Trade Unions (COSATU) is the first largest trade union federation with 21 affiliated trade unions in South Africa. COSATU was founded on the 30 November 1985 and officially launched on the 31 December 1985. Political Policy COSATU believes in a democratic society free of racism, and the exploitation of the working class. We believe in a society where workers have full control over their lives. We are determined to work with other democratic forces to do away with all forms of oppression and exploitation.  FEDUSA: COSATU is also affiliated with the other two labor federations in South Africa under the International Confederation of Free Trade Unions (ICFTU), an international umbrella confederation. The Federation of Unions of South Africa (FEDUSA), and the National Council of Trade Unions (NACTU) are the other two educational, social and political empowerment of the disadvantaged, and is a conscious effort to achieve the goals of the democratic Constitution FEDUSA actively advocates for wage increases and supports initiatives aimed at alleviating poverty, striving to uplift not only workers but their families and communities. We call on employers to be cognisant of these realities when we enter negotiations.  NACTU: Other than regular union activities, such as organising and representing workers, NACTU has been involved in anti-privatisation campaigns, challenging existing labour laws, and campaigns against unemployment. Price theory: Click here  supply & demand Supply refers to the market's ability to produce a good or service, whereas demand refers to the market's desire to purchase the good or service. Supply refers to the producer (producer willing to sell) Demand refers to the consumer (consumer willing to buy) types of goods:  law of demand: When there is a lot of people demanding an item like e.g. A bicycle. The price will be high for the bicycle When there not a lot of people demanding an item like e.g. A bicycle. The price will be low for the bicycle factors that will determine demand: Price of product Price of related product Income levels Taste or preference of consumer. Size of household  law of supply: When there is a lot of bicycles supplied to people. The price will be low for the bicycle When there is a few of bicycles supplied to people. The price will be high for the bicycle sectors of the economy  Definition It entails: Exploitation of natural resources This sector includes:  agriculture (farming),  forestry, Pictures:  fishing,  hunt,  mining  stone quarrying. PRIMARY SECTOR  Definisie It entails: Production process deals with the processing of primary raw materials to produce manufactured goods. Activities in this sector include metalwork Prente: and the making of clothes, cars and canned food. Building and construction are included in this sector SECONDARY SECTOR  Definition It entails: Products / services that are provide services. ready to sell to the final Human services include health, education, consumer tourism, recreation, entertainment, local Pictures government, police and military services. Physical services include banking, financial services, libraries, retail, goods transport, public transport and waste disposal. TERTIARY SECTOR