Chapter 22 Word Scramble
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Term | Definition |
SOLE PROPRIETORSHIP | A business owned and operated by a sole, or single person. |
FINANCIAL CAPITAL | The money needed to run a business or enable it to grow larger. |
PARTNERSHIP | A business that two or more people own and operate. |
ARTICLES OF PARTNERSHIP | Formal legal papers specifying the arrangement between partners. |
CORPORATION | An organized business recognized by law that has many of the rights and responsibilities of an individual. |
CHARTER | A government document granting permission to organize. |
STOCK | Ownership shares of the corporation. |
STOCKHOLDER | Become part owners of the corporation. |
BOARD OF DIRECTIONS | People elected by the shareholders of a corporation to act on their behalf. |
COOPERATIVE | A voluntary association of people formed to carry on an economic actiity that benefits its members. |
LABOR UNION | Groups of workers who band together to have a better chance to obtain higher pay and better working conditions. |
RIGHT-TO-WORK LAW | Which prevent mandatory union membership required by the union shop. |
COLLECTIVE BARGAINING | Process by which unions and employers negotiate the conditions are made by the central government. |
MEDIATION | Situation in which union and company officials bring in a third party to try to help them reach an agreement. |
ARBITRATION | A third party listens to both sides, then decides how to settle the disagreement. |
STRIKE | When workers deliberately stop working in order to force an employer to give in to their demands. |
BOYCOTT | Or refuse to buy, the business's products. |
TRANSPARENCY | Revealing, or making public, this information. |
DISCRIMINATION | Unfair treatment based on prejudice againts a certain group. |
SOCIAL RESPONSIBILITY | The obligation to pursue goals that benefit society as well as themselves. |
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