Contemporary Socio-economic Issues

Dumping

When a country or company exports a product at a price that is lower in the international importing market than the price in the exporter’s local market

Striking

A joint action organised by employees or their union representatives (to stop working) and try to force the employees to accept their demands

Piracy

The illegal use or imitation of another person’s work

Impact of piracy on businesses

Businesses suffer substantial losses in revenue because of the illegal reproduction of artist’s, music, movies and branded clothing

Labour Relations Act

Legislation, such as the LRA, are put in place to promote fair labour practices in the workplace

Purpose of the LRA

The act provides the structure for governing the relations between an employer and their employees

Trade Unions

An association formed by workers to represent and protect their rights in the workplace

Role of Trade Unions

To represent staff members in the workplace