Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Unit 3
| Question | Answer |
|---|---|
| Sole Proprietorship | A business owned by one person |
| Partnership | A business in which two or more persons combine their assets and skills |
| LLC (Limited Liability Company) | Corporation with the benefits of a sole proprietorship, and not many disadvantages. |
| joint venture | an agreement between two or more companies to share a business project |
| limited partnership | partnership in which only one partner is required to be a general partner |
| Corporation | A business owned by stockholders who share in its profits but are not personally responsible for its debts |
| stock market | A general term used to describe all transactions involving the buying and selling of stock shares issued by a company. |
| Stockholders | people or entities that own stock in a corporation and therefore are its owners |
| preferred stock | A special type of stock whose owners, though not generally having a say in running the company, have a claim to profits before other stockholders do. |
| common stock | Term used to describe the total amount paid in by stockholders for the shares they purchase. |
| Franchise | A business established or operated under an authorization to sell or distribute a company's goods or services in a particular area |
| vertical merger | the combination of two or more firms involved in different stages of producing the same good or service |
| horizontal merger | the combination of two or more firms competing in the same market with the same good or service |
| conglomerate | a group of diverse companies under common ownership and run as a single organization |
| perfect competition | a market structure in which a large number of firms all produce the same product |
| monopolistic competition | a market structure in which many companies sell products that are similar but not identical |
| Oligopoly | A market structure in which a few large firms dominate a market |
| Non-price advertisement | Marketing a firm's brand and quality of products, rather than lowering prices. |
| Monopoly | A market in which there are many buyers but only one seller. |
| economies of scale | factors that cause a producer's average cost per unit to fall as output rises |
| marginal analysis | analysis that involves comparing marginal benefits and marginal costs |
| marginal benefit | the additional benefit to a consumer from consuming one more unit of a good or service |
| marginal cost | the cost of producing one more unit of a good |
| collective bargaining | Process by which a union representing a group of workers negotiates with management for a contract |
| right-to-work laws | A state law forbidding requirements that workers must join a union to hold their jobs. |
| Mediation | A method of settling disputes outside of court by using the services of a neutral third party, called a mediator. The mediator acts as a communicating agent between the parties and suggests ways in which the parties can resolve their dispute |
| Arbitration | settling a dispute by agreeing to accept the decision of an impartial outsider |
| strike | Nonviolent refusal to continue to work until a problem is resolved. |
| Picketing | Patrolling of a business site by workers who are on strike |
| Boycott | A group's refusal to have commercial dealings with some organization in protest against its policies |
| Lockout | a company tool to fight union demands by refusing to allow employees to enter its facilities to work |
| Injunctions | a court order requiring a person or entity to either cease doing or else start doing some specific action. |
| FDIC (Federal Deposit Insurance Corporation) | an agency developed by the federal government to regulate banking and and investment activivties |
| SEC | Securities and Exchange Commission |
| FCC (Federal Communications Commission) | Independent regulatory agency that oversees electronic media. |
| NTSB (National Transportation Safety Board) | The governmental agency that investigates and reports reasons for accidents and recommends solutions to the FAA |
| OSHA | Occupational Safety and Health Administration |
| FTC | Federal Trade Commission |
| EEOC | Equal Employment Opportunity Commission |
| EPA | Environmental Protection Agency |
| FDA | Food and Drug Administration |
| NRC | Nuclear Regulatory Commission |
Created by:
user-2009313
Popular Economics sets