click below
click below
Normal Size Small Size show me how
T-EPF M1L6 Key Terms
Traditional EPF Module 1 Lesson 6 Key Terms
Term | Definition |
---|---|
Sole Proprietship | A price set by the government that employers must pay for their employees, example for price floor. |
Partnership | A business organization owned by two or more people. |
Corporation | A business owned by individual stockholders. |
Financial Capital | Assets needed by a company to provide goods or services, as measured in terms of money value. |
Stock | A certified ownership in a corporation. |
Stockholders | Part owners of the corporation. |
Dividend | Profits paid out to stockholders. |
Cooperative | A business or firm that is owned and ran jointly by its members, who share the profits and benefits. |
Labor Union | An organization that negotiates workers benefits, salaries, and working conditions with the employer. |
Right to Work Laws | A law that restricts union membership, NC is a right to work state. |
Boycott | The refusal to buy or use the goods or services of a certain company as a means to protest. |
Arbitration | A third party listens to both sides of an argument and provides a binding decision. |
Mediation | A third party listens to both sides of an argument and recommends a solution. |
Strike | When workers collectively stop working to force the employer to meet their demands. |
Collective Bargaining | Negotiations between the company and the labor union. |