Economic groups

Definition

Economic groups are types of interest groups that primarily focus on economic issues, including trade, labor, and corporate policies. They aim to influence political decision-making in a way that benefits their members' economic interests.

Related terms

Lobbying:

The act of attempting to influence decisions made by officials in the government, often by different interest groups.

Political Action Committee (PAC):

A private group organized to elect political candidates or promote legislation and public policy favorable to its interests.

Collective Bargaining: The process whereby workers (often represented by unions) negotiate contracts with their employers regarding wages, working conditions, benefits, and other aspects of workers' compensation and rights