civics chapter 22 Word Scramble
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Term | Definition |
sole proprietorship | a buisness owned and operated by a sole, or single person |
financial capital | the money needed to run a buisness or enable it to grow larger |
partnership | a buisness that two or more people own and operate |
articles of partnership | a document that identifies how much money each of you will contribute and what role each partner will play in the buisness. |
corporation | an organized business recognized by law that has many of the rights and responsibilities of an individual |
charter | government document granting permission to organize |
stock | ownership shares of the corporation that will be issued |
stockholder | the people who buy the stock |
board of directors | people elected by the shareholder of a corporation to act on their behalf |
cooperative | a voluntary association of people former to carry on some kind of economic activity that will benefit its members |
labor union | association of workers organized improve wages and working conditions |
righ-to-work laws | state laws forbidding unions from forcing workers to join |
collective bargaining | process by which unions and employers negotiate the conditions of employment |
mediation | situtation in which union and complany officials bring in a third party to try to help them reach an agreement |
arbitration | situation in which union and company officials submit the issues they cannot agree on to a third party for a final decision |
strike | when workers deliberately stop working in order to force and employer to give in to their demands |
boycott | the refusal to purchase certain goods |
transparency | process of making buisness deals more visible to everyone |
discrimination | unfair treatment based on prejudice against a certain group |
social responsibility | the obligation a buisnesss has to pursue goals that benfit society as well as themselves |
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