Donnia Trent IRSC Main Campus, Tomeu Center, GED, Lab 311 Fort Pierce, FL

1. Hello Donnia TrentIRSCMain Campus, Tomeu Center, GED, Lab 311Fort Pierce, FL

2. What is Elluminate • Elluminate, Inc. is a web-based avenue for providing on-line classes in real time. Welcome to elluminate

3. The Participant Interface Whiteboard Tools

4. Participants Window • Raise/Lower Hand • Emoticons • Step Away

5. Chat Window • Permission to use Chat • Send a Text Message • Public • Private

6. Polling • Types • Yes/No • Multiple Choice • Slowdown/Speedup Class Pace • Responses will appear in the Participants window if the moderator has selected to show them

7. World History U. S. History Civics and Government Economics (Workers & Consumers) Geography Social Studies

8. Workers & Consumers

9. Labor and Wages • Supply and Demand • Labor Unions • Consumer Spending and Debt Discussion Topics

10. Sell our labor as workers - which we are paid wages or earnings • We work a certain number of hours and are paid a hourly wage • Use our wages or earnings to buy goods and services – which makes us consumers • Consumers determine the supply and demand for labor based on their demand for goods and services Labor and Wages

11. Question • What are wages? • Cost of necessities • Money invested in business • The price paid for labor • Dues paid by union members • The balance carried on a credit card Labor and Wages

12. Is your hourly wage/ salary appropriate or competitive for your area. You may use a salary calculator that will compare ‘position’ in a particular ‘location/city’ http://www.payscale.com/salary-calculator Labor and Wages

13. Example – if consumers want restaurant meals and take-out food • Then, the demand for food service workers will increase • The supply of labor is also effected by geography, population figures, education, economy, etc. Supply & Demand

14. Some industries, workers ban together to increase their power to negotiate: • fair and competitive wages, • benefits, • and working conditions. • Sometimes, This is done through Labor Unions Labor unions

15. Through a process called collective bargaining • Representatives of the union (workers) and management agree on pay and working conditions • Union and management make agreement & sign a contract for a set period of time • Examples – car industry, manufacturing industry, medical industry, etc. • Positive & Negative Labor unions - continued

16. Question For representatives of labor and management to successfully negotiate a contract, what must they value most? • Financial benefits for the union • Financial benefits for management • Victory over an opponent • The power to go out on strike • The give and take of compromise Labor unions - continued

17. Workers are consumers Most consumers can not afford to buy everything they want, must make choices Spending decisions depend on personal preferences and prices Generally, buy necessities such as: shelter, food, clothing, medical care, and utilities first Leftover income – buy luxuries (DVD players, vacations, etc.) or savings or retirement Consumer spending and debt

18. Consumers also make purchases by borrowing • This is called consumer credit • Question: • What are some purchases (items) that you or someone that you know have purchased on credit? Consumer spending and debt - Continued

19. Mortgages • Cars • Vacations • Business • Household Items • Appliances, TVs, etc. • May be WISE to research item before purchasing at a site such as: http://web.consumerreports.org/test/SEM/version2.htm?EXTKEY=SG72CR0&CMP=KNC-CROBRANDG&HBX_OU=50&HBX_PK=consumerreports.org Examples - Consumer Credit Items

20. Most credit spending is done by credit cards • Buy now, pay later, usually on a monthly basis • Consumer pay a fee for this – monthly interest • Unless entire balance is paid off • Interest rates on credit cards tend to be HIGH • Many consumers carry high balance at high rates Consumer spending and debt - Continued

21. Since your interest rates, on loans and credit cards, are determine by your credit, it is a good idea to pay close attention to your credit rating. • This rate is determined on how promptly or not so promptly you pay your bills. • You may order copies of your credit reports by visiting this website: • www.annualcreditreport.com Consumer spending and debt - Continued

22. People work to earn a wage/salary • With the wage/salary, we make purchases • This makes us consumers • Labor unions exist to protect our wages and benefits • Collective bargaining between labors & management • Consumers must decide to make purchase on CREDIT or by CASH summary

23. Elluminate – Social Studies Thanks for joining the Elluminate Classroom. We hope to see you again soon.

24. Watch for other Elluminate Breakout Classes M – TH; 11 A.M. and 7 P.M. daily RL #8.6 FL Stds: 02.05, 02.15, 02.15, 02.13 Thanks for joining this class Donnia Trent, Moderator dtrent@irsc.edu