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chapter 22

definitions

QuestionAnswer
Sole proprietorship buisness owned by a single person
financial capital money used to buy the tools and equipmentused in production
Article of partnership papers specifying the arrangement between partners
corporation buisness owned by many people
charter writtten document gratning permission to organize a corperation
stock ownership share of a corperation
stockholder individual who has invested in a corperation and owns some of it stocks
board of directors poeople elected by the sharholders of a corperation
cooperative voluntary association of people
labor union association of workers organized to improve wages and working conditions
right to work law state law forbidding unions from forcing workers to join.
collective barganing unions and empolyers negotiate conditions of employment
mediation situation in which union and company officials bring in a third party to try and help them reach an agreement
strike when workers deliberately stop working in order to force employers to give in to their demands
boycott refusal to puchase certain goods
transparenct process of making buisness deals more visable to everyone
discrimination unfair treatment based on prejudice.
scoial responsability obligation a buisness has to pursue goals that benifit society as well as themselves
Created by: maxfuentes
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