click below
click below
Normal Size Small Size show me how
Chap 22 Terms
WSHS - C/E - Chap 22 Terms - Boyd/Tedder
Question | Answer |
---|---|
sole proprietership | a business owned and operated by a single person |
financial capital | money used to buy the tools and equipment used in production |
partnership | a business owned by two or more people |
articles of partnership | formal legal papers specifying the arrangement between partners |
corporation | type of business organization owned by many people but treated by law as though it were a person |
charter | a government document granting permission to organize a corporation |
stock | ownership share of a corporation |
stockholder | an individual who has invested in a corporation and owns some of its stock |
board of directors | people elected by the shareholders of a corporation to act on their behalf |
cooperative | a voluntary association of people formed to carry on some kind of economic activity that will benefit its members |
sole | being the only one |
consult | to seek information or advise from a person or resource |
clarify | to make something more understandable |
labor union | association of workers organized to improve wages and working conditions |
right-to-work-law | state laws forbidding unions from forcing workers to join |
collective bargining | process by which unions and employers negotiate the conditions of employment |
mediation | situation in which union and company officials bring in a third party to try to help them reach an agreement |
arbitration | situation in which union and company officials submit the issues they cannot agree on to a third party for a final decision |
strike | when workers deliberately stop working in order to force an employer to give in to their demands |
boycott | the refusal to purchase certain goods |
comprise | to consist or be made up of |
technique | prodedure or method by which something is done |
option | an alternative or choice |
transparency | process of making business deals more visible to everyone |
discrimination | unfair treatment based on prejudice against a certain group |
social responsibility | the obligation a business has to pursue goals that benefit society as well as themselves |
foundation | an organization |
crucial | of vital importance |
reveal | to make know or show plainly |