HOW DO CHANGES IN THE ECONOMY AFFECT THE OBJECTIVES OF UNIONS?

Expert Solution

Union means a group of people/states/countries coming together for their common interest which are equally important for the constituents of the Unions.

There are many types of Unions like-

Labour Unions
Trade Unions
Economic Unions
Students Unions etc

Since here we want to know the effects of changes in economy on the objectives of Unions, so we will talk about Trade Unions or Economic Unions.

Objectives of a trade union is to ensure good wages to labours, good working environment, fixed hours of work and other benefits.

Objectives of an Economic Union is to expand economic activities by removing trade barriers through common market and common currency etc.

Now if there are changes in the economy like there is change in production, demand, preferences of people, there is some natural calamity or there is good change like the given country is hosting a big sports tournament then these changes will effect the objectives of the unions. These changes may be both positive or negative.

If the change in the economy is positive then the Unions may increase their demands or will plan a higher level of economic activities and if the change is unfavourable then the unions will loosen off the restrictions in economic activities and their different objectives.

Rahul Sunny answered 1 month ago

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