Economics - Topic 5 Vocabulary
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show | a business owned and managed by a single individual
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liability | show 🗑
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fringe benefits | show 🗑
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show | business organization owned by two or more persons who agree on a specific division of responsibilities and profits
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show | a type of partnership in which all partners share equally in both responsibility and liability
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limited partnership | show 🗑
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limited liability partnership | show 🗑
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show | a partnership agreement that spells out each partner’s rights and responsibilities
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assets | show 🗑
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show | a semi-independent business that pays fees to a parent company in return for the exclusive right to sell a certain product or service in a given area
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royalties | show 🗑
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show | a legal entity, or being, owned by individual stockholders, each of whom has limited liability for the firm’s debts
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show | a certificate of ownership in a corporation
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show | a formal contract issued by a corporation or other entity that includes a promise to repay borrowed money with interest at fixed intervals
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horizontal merger | show 🗑
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vertical merger | show 🗑
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conglomerate | show 🗑
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show | a large corporation that produces and sells its goods and services in more than one country
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cooperative | show 🗑
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consumer cooperative | show 🗑
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service cooperative | show 🗑
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producer cooperative | show 🗑
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show | an institution that functions much like a business but does not operate for the purpose of making a profit
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show | a nonprofit organization that works to improve the image, working conditions, and skill levels of people in particular occupations
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business association | show 🗑
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show | a nonprofit organization that promotes the interests of a particular industry
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labor unions | show 🗑
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labor force | show 🗑
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show | the practice of contracting with another company to do a specific job that would otherwise be done by a company's own workers
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offshoring | show 🗑
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show | temporary and part-time jobs that are given to workers instead of full-time or permanent jobs
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derived demand | show 🗑
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equilibrium wage | show 🗑
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unskilled labor | show 🗑
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show | work that requires minimal specialized skills and education
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show | work that requires specialized skills and training
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show | work that requires advanced skills and education
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show | an unofficial barrier that sometimes prevents some women and minorities from advancing to the top rank of organizations dominated by men
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show | an organized work stoppage intended to force an employer to address union demands
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right-to-work law | show 🗑
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blue-collar worker | show 🗑
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show | the process in which union and company management meet to negotiate a new labor contract
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show | a settlement technique in which a neutral person, the mediator, meets with each side to try to find a solution that both sides will accept
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arbitration | show 🗑
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