CHAPTER 8 EXERCISES

Name: JANINE A. POLISON Score: __________________

Year/Course/Section: MM-1A Schedule: MON/THURS 4-5:30

IDENTIFICATION:

Speculators 1. The perceptive and lucky individuals who are able to buy goods at cheaper prices and then
sell them later at higher prices.

Inflation 2. A condition of general price increases which reduces the amount of goods and services that
money can buy.

Lockout 3. The temporary refusal of an employer to furnish work as result of labor dispute.

Inadequate Wages 4. This result from the inability of wages to catch up with the increase in prices.

Labor Problems 5. With social ideals that normally rise out of employment.

Department Of Labor and Employment(DOLE) 6. A condition where a family receives insufficient

income to meet recommended nutrient requirements and his basic needs.

Unemployment 7. A condition wherein people who are willing and able to work cannot find jobs.

Frictional unemployment 8. Form of unemployment where persons choose to stay idle or out of work
for a while if their skills cannot be utilized in any type of work.

Strike 9. An association of employees which exist in whole or in part for the purpose of collective
bargaining.

Invisible underemployment 10. An area of labor problem wherein workers are working for less that
forty (40) hours a week and wanting additional hours of work.
II. Write TRUE if the statement is correct and FALSE if it is wrong. If wrong,
underline the word/s that makes it wrong.

FALSE 1. Work stoppage brought about by labor dispute in less production, less sales and less income for
labor and management.

FALSE 2. If workers are insecure in their jobs of if their wages are just enough to meet subsistence,
provision for emergencies could be met.

TRUE 3. The number of people working less than 40 hours per week and wanting additional work is
invisible underemployment.

FALSE 4. Unemployment is a situation wherein people who are willing and able to work are able to find
jobs.

FALSE 5. Poverty is a condition where a family receives sufficient income to purchase or meet the
recommend minimum nutrient requirements and basic needs.

TRUE 6. Inadequate wage results from the inability of wages to catch up with the increase in prices.

TRUE 7. Civilian labor force is the total employed and unemployed persons.

FALSE 8. Strike is the temporary stoppage of work initiated by the employees.

TRUE 9. Retirement is a form of economic insecurities.

TRUE 10. Lockout is the temporary refusal of an employer to furnish work.