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Chapter 2

Test Thurdsay 10-01-15

TermDefinition
Intrastate Commerce business transacted within a state
Sales Tax tax levied on the retail price of goods and services at the time they are sold
Partnership business owned by two or more persons
Income Tax a tax levied against the profits of business firms and against earing of individuals
Copyright similar to a patent in that the federal government gives an author the sol right to reproduce, publish, and sell literary or artistic work for the life of the author plus 70 years
Interstate Commerce business operations and transactions that cross over state lines
Business plan written description of the business and its operations with an analysis of the opportunities and risks it faces
Cooperative a business owned and operated by its user-members for the purpose of supplying themselves with goods and services
Bankruptcy a legal process that allows selling assists to pay off debts
Creditors those to whom money is owned
Shares equal parts of the divison of ownership of a corporation
Trademark a distinguishing name, symbol, or special mark placed on good or service that is legally reserved for the sole use of the owner
Excise Tax a sales tac that applies only to selected goods and services
Licensing a way to linit and control those who plan to enter certain types of businesses
Sole Proprietorship a business owned and managed by one person
Patent an agreement in which the federal government gives an inventor the sole right for 20 years to make, use and sell an invention
Charter an official document granted by a state giving power to run a corporation
Proxy a written authorization for someone to vote on behalf of the person signing the proxy
Dividends profits distributed to stockholders on a per-share basis
Stockholders owners of a corporation
Corporation a business owned by a group of people and authorized by the state in which it is located to act as though it were a single person
Property Tax a tax levied on material goods owned
Baby boom High-birth-rate period between 1945-1965
Baby Bust Low-birth-rate period that followed the boomer period
Labor force Troup that included most the people 16 or over who are available for work, whether employed of unemployed
Labor Participation Rate Percentage of the labor force that is either employed or actively seeking employment
Glass Ceiling Invisible barrier to job advancement
Sticky Floor Syndrome Inability of workers to move up from low-level jobs
Comparable Worth
Created by: thatchickbay_
 

 



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