Final answer:
A craft union represents skilled workers in a specific trade, while an industrial union encompasses all workers within an industry. Examples include the United Brotherhood of Carpenters and the United Auto Workers, respectively. Labor unions can affect wages and employment numbers within companies.
Step-by-step explanation:
A craft union focuses on skilled workers in a particular trade, while an industrial union includes all workers in an industry, regardless of skill level. For example, the United Brotherhood of Carpenters is a craft union, while the United Auto Workers is an industrial union.
Craft unions generally advocate for the specific interest of skilled labor, negotiating wages, and working conditions related to their particular trade. Industrial unions often seek to address broad labor issues affecting all workers within an industry, such as workplace safety and company-wide policies.
Labor unions can lead to higher wages for members, but companies may hire fewer people due to increased labor costs. Arguments for labor unions include collective bargaining power and worker protection, while arguments against them include increased costs for businesses and reduced competitiveness.