1. Talk to two workers (for example, construction workers, farm workers, factory workers, workers at any shop) to find out if they are receiving the minimum wages laid down by law?
- Construction worker : They get below the minimum wages set down.
- Factory worker : They receive below the minimum wages.
2. Who is a consumer?
A consumer is an individual who buys goods for personal use and not for resale.
3. Who are producers?
Producers are persons or organisations that produce goods for sale in the market.
4. Define the term investment?
Investment refers to the money spent to purchase new machinery or buildings or training so as to be able to increase or modernise production in the future.
5. What do you mean by workers’ unions?
Workers’ union is an association of workers. Workers’ union are common in factories and offices. The leaders of the Union bargain and negotiate with the employer on behalf of its members.
6. What is Minimum Wages Act?
Minimum wages Act specifies that wages should be below a specified minimum limit.