ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Definition: Labour unions or trade unions are organizations formed by workers from related fields that work for the common interest of its members. They help workers in issues like fairness of pay, good working environment, hours of work and benefits.

Detailed explanation-2: -A labor union is a group of two or more employees who join together to advance common interests such as wages, benefits, schedules and other employment terms and conditions.

Detailed explanation-3: -Trade unions are voluntary associations of employees formed to promote and protect their interests through collective actions. These arebasically associations of workers formed with the aim of protecting the workers against exploitation by their employers and also improving their living conditions.

Detailed explanation-4: -trade union, also called labour union, association of workers in a particular trade, industry, or company created for the purpose of securing improvements in pay, benefits, working conditions, or social and political status through collective bargaining.

Detailed explanation-5: -(i) Craft unions representing skilled workers from one occupation. (ii) General unions representing mainly unskilled workers from many occupations. (iii) Industrial unions representing mainly workers in one industry. (iv)