Commerce - Work and Wellbeing
what is an employeer?
someone who hires employees
what is the trade union?
aim of improving workers conditions and rights through their actions which include:
- better pay
- safer working conditions
- increased job sercurity
- employees can join unions to help protect them against negligent employeers
what is the employees associations?
similar to trade union and allow employeers to join together to protect their common intersts
what is an redistrubution of income?
income is redistrubted through an economy through taxes and social assistance payments
superannuation is money set aside during workers life for retirement
what is paid work
performing services for one hour or more hours in a week for money
what is unpaid work?
involves performing the same services but for no income
what is full time work
- continuing, ongoing employment
- Number of hours per week is 38 or more
- A range of entitlements received
what is part time work
- ongoing employment
- Number of hours per week isfewer than 38
- Number of hours may be fixed or variable
- Entitlements receive on a pro-rata basis
what is casual work
- employee on a hourly or as need basis
- No percent weekly roaster
- Hours may vary from week to week
- May work for more than one employer
- No access to entitlement by a loading received to compensate
what is voluntary work
person who does work without getting paid to do it; a volunteer
what is apprenticeship
a kind of job training that involves following and studying a monster of the trade on the job instead of school (carpenters, doctors etc)
what is traineeship
on the job training with an employer while you study and get paid
what is an entitlement
Entitlements refer to the benefits and privileges that employees receive as part of their employment
what is loading
refers to additional pay or a percentage added to an employee's base wage. It compensates for factors like irregular hours, lack of job security, or absence of benefits associated with permanent positions.
what are wages?
what an employee receives in exchange for their labour our or services, usually paid a fixed regular payment
what are salaries
total package of remuneration (money paid for work or services) paid to an employee, this includes the base pay, superannuation, entitlements etc
what is commission
a percentage or a cut of a bigger sale as payement for making the sale
what are profits?
as the remaining money a business has after paying for expenses profit=revenue-expenses
was are dividends?
sum of money paid regularly by a company to its shareholders from its profit, form of investment
what is an employee?
someone who is hired by an employee to provide services in return for an income
what is the sharing economy?
The sharing economy (gig economy) is an economic system in which assets, goods and services are shared between individuals online.