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DECA 1-15
| Question | Answer |
|---|---|
| Franchise | a contractual agreement between a parent company and a franchisee to distribute goods and services |
| Corporation | a form of business ownership that is owned by stockholders who have purchased units or shares of the company |
| Elastic Demand | demand that changes according to changes in price |
| Inelastic Demand | demand that is not affected by changes in price. |
| Unitary Demand | when sales remain the same because changes in supply and demand are equal |
| Tort | a private wrongdoing that potentially harms another person or entity |
| Doctrine of Sovereign Immunity | the universally accepted principle that each nation has the right to manage its own government and develop its own laws. |
| Job Enlargement | combining different tasks into one position |
| Job Rotation | moving from one job to another job within an organization |
| Specialization by Trade | the type of work that a person performs in order to earn a living, such as engineering, public-relations, or accounting. |
| Frictional Unemployment | occurs because there are always workers who are in transition |
| Structural Unemployment | when the demand for certain types of workers declines and is often due to technology advancements and the need for new skills |
| Cyclical Employment | result of changes in the economic and business cycles |
| Wage Garnishments | court-ordered initiatives that involve taking income taken from an employee's salary and submitting it to another person or organization |
| Embezzlement | theft of valuables that have been entrusted to another's care |
Created by:
rileycc