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Ch 14 social studies

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
labor unions   organizations of workers that seek to improve wages and working conditions and to protect members’ rights  
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boycott   refuse to buy  
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supply   the amount of a product that producers are willing and able to offer at different prices  
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interest   the payment for the use of capital  
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demand   the amount of a product or service that buyers are willing and able to buy at different prices  
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market price   the price at which buyers and sellers agree to trade  
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corporation   a business that is separate from the people who own it and legally acts as a single person  
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strike   workers refuse to work unless employers meet certain demands  
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entrepreneur   a person who starts a business  
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sole proprietorship   a business owned by an individual  
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partnership   a type of business in which two or more people share ownership  
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profit   the difference between the total cost of production and the total revenues received from the buyers  
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collective bargaining   the process by which representatives of the unions and business try to reach agreement about wages and working conditions  
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