click below
click below
Normal Size Small Size show me how
Chapter 22 Vocab.
Term | Definition |
---|---|
Sole Proprietorship | A business owned and operated by a sole, or single person |
Financial Captial | The money needed to run a business or enable it to grow larger |
Partnership | A business that two or more people own and operate |
Articles of Partnership | A document that indentifies how much money each of you will contribute and what role each partner will play in the business |
Corporation | An organized business recognized by law that has many of the rights and responsibilites of an individual |
Charter | A government document granting permission to organize |
Stock | The amount of ownership shares of the corporation, that will be issued |
Stockholder | The people who buy 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 an economic activity that benefits its members |
Labor Union | Groups of workers who band together to have a better chance to obtain higher pay and better working conditions |
Right-To-Work Law | Law passed to prevent mandatory union membership required by the union shop |
Collective Bargaining | Process by which unions and employers negotiate the conditions of employment the conditions of employment |
mediation | A third party who tries to help them reach a compromise agreement |
Arbitration | A third party listens to both sides, then decides how to settle the disagreement |
Strike | All workers in the union refuse to go to work |
Boycott | A refusal to by the business's products |
Transparency | Publishing information to provide investor with full disclosure before they choose to invest or continue to invest in the company |
Discrimination | Unfair treatment based on prejudice against a certain group |
Social Responsibility | The obligation to pursue goals that benefit society as well as themselves |