ADMS 1000 Lecture Notes - Lecture 2: Freedom Of Movement, Perfect Competition, Precarious Work

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ADMS 1000 Full Course Notes
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ADMS 1000 Full Course Notes
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Ap/adms 1000 lecture # 2 the employee-employer relationship. There is an exchange of labour for compensation. The employer has control over: the methods of production, how much to produce and, the right to direct the employee in how to do his or her job. Not entitled to as many social protections. The role of bargaining power in the employment relationship. The role of unions and collective bargaining. Government and unions should not interfere in business. Competitive markets and supply and demand will allow: optimal assignment of skills, fairest distribution of wealth. People: are motivated by self-interests, have adequate information to understand what is in their best interests. Businesses and workers share a common interest: for the business to be a success. Management will treat workers well in order for workers to be productive. Unions are not needed because management will look out for employees" concerns. Interests of workers and owners are in conflict.

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