1. QUIZ Use SENTENCES to answer the following question – leave ONE LINE between each example: –Give 3 specific examples from the book of laws and regulations in the US. Tell how they impact competition.

2. Section 3: Study Guide # 8-10 Taken mainly from Ch 8 of Economics Book

3. What is a Labor Union? A Labor Union is an association through which employees can negotiate compensation and solve disputes There are many types of Labor Unions, each has a slightly different purpose. You will need to know them well enough to match the Labor Union with the purpose.

4. What types of Labor Unions are there? Craft Union or Trade Union: association of skilled workers who perform the same type of work. [ex. The Cigar Makers’ Union] Industrial Union: association of all workers in the same industry regardless of job performed

5. What types of Labor Unions are there? Closed Shop: Employer hires only union members (this means the union determines who is or is not hired by who they admit to the union). This type of union is currently illegal for companies participating in interstate commerce

6. What types of Labor Unions are there? Union Shop: workers do not have to be union members to be hired, but do have to join upon hiring and remain in union until end of job Modified Union Shop: workers don’t have to join, but if they join, they need to stay in the union until end of job

7. What types of Labor Unions are there? Agency Shop: does not require worker to join but DOES require payment of union dues –WHY? Payment of dues is required because all workers are benefiting from the work of the union, so all are required to pay membership

8. What do Labor Unions Accomplish? P.202-203