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Economics chapter 8-9 Flashcards | StudBud
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Economics chapter 8-9
Economics chapter 8-9
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Economics chapter 8-9
Flashcards
51 cards
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Practice quiz
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Host live
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Questions
51
Answers
1
Business owned by two or more people who divide responsibilities/profits
Corporation
Partnership
Royalties
Business franchise
2
Producers that agree to coordinate prices and production
Arbitration
Collusion
Externality
Cartel
3
A cost or benefit to someone other than the producer of that good or service
Exoskeleton
Internality
Free rider
Externality
4
Organized work stoppage intended to force an employer to address union demands
Strike
Home run
Out
Ball
5
What are the three key economic questions
What u seeing? How u gonna see it? What's gonna see it?
Where u going it? How u gonna go? Who's gonna go?
What u making? How u gonna make it? Who's gonna use it?
What u doing? Where u gonna do it? Who's gonna do it?
6
Government owns and controls all resources and means of production
Autocracy
Communism
Socialism
Capitalism
7
Nonprofit that promotes the interests of particular industry
Labor force
Collective bargaining
Trade association
Nonprofit organization
8
Corporation that issues stock to only a few people, often family members
Conglomerate
Closely held corporation
Multinational corporation
Publicly held corporation
9
Product considered same no matter who produces or sells it
Outsourcing
Cooperative
Conglomerate
Commodity
10
Someone who does not pay their fair share of taxes
Free rider
Free one
Pale rider
Free bird
11
Unofficial barrier that prevents women & minorities from advancing to top ranks of business
Featherbedding
Glass floor
Glass ceiling
Glass table
12
Theory that education increases efficiency of production and thus results in higher wages
Learning effect
Liability
Limited partnership
Screening effect
13
Combining two or more firms that have the same good/service
Positive merger
Negative merger
Vertical merger
Horizontal merger
14
An illegal agreement among firms to divide the market, set prices, or limit production
Collusion
Allusion
Commodity
Cartel
15
Semi-independent business that pays parent company for right to sell a product/service
Business franchise
Trade association
Conglomerate
Corporation
16
Work that requires specialized skills and training
Professional labor
Unskilled labor
Skilled labor
Screening labor
17
Business organization owned/operated by a group for their shared benefit
Cooperative
Conglomerate
Corporation
Congregation
18
Nonprofit that works to improve working conditions of a particular occupation
Professional organization
Outsourcing
Trade association
Co-operative
19
Labor contracts that keep unnecessary workers on a company’s payroll
Screening effect
Featherbedding
Glass ceiling
Professional organization
20
Theory that completing college indicates a job applicant is intelligent and hard-working
Bond effect
Learning effect
Dividend effect
Screening effect
21
Functions like a business but not for making a profit
Professional organization
Nonprofit organization
Trade association
Cooperative
22
All nonmilitary people employed or unemployed
Wilbur force
Labor force
Trade force
Job force
23
Owned by individual stockholders, each of whom has limited liability for the firm’s debts
Monopoly
Oligopoly
Dividend
Corporation
24
Business owned/managed by a single individual
Limited partnership
Partnership
General partnership
Sole proprietorship
25
Payments to employees other than wages or salary
Professional organization
Trade association
Labor union
Fringe benefits
26
Someone who performs manual labor and earns an hourly wage
Non-collar worker
Blue-collar worker
Grey-collar worker
White-collar worker
27
Corporation that sells stock on the open market
Vertical merger
Horizontal merger
Publicly held corporation
Closely held corporation
28
Certificate of ownership in a corporation
Royalties
Assets
Stock
Dividend
29
Work that requires no specialized skills, education, or training
Unskilled labor
Professional labor
Guest workers
Skilled labor
30
Corporate profits paid to stockholders
Dividend
Mediation
Bond
Negative integer
31
Neutral person meets with each side to find a solution that both sides will accept
Arbitration
Mediation
Colation
Modation
32
Combining firms involved in different stages of producing the same good/service
Positive merger
Vertical merger
Negative merger
Horizontal merger
33
Neutral person imposes a decision that is legally binding for company and union
Mediation
Staycation
Arbitration
Vacation
34
All partners share equally in both responsibility/liability
Limited partnership
Sole proprietorship
Proprietorship
General partnership
35
Contracting another company to do a job
Offshoring
Insourcing
Screening
Outsourcing
36
Union and company management meet to negotiate a new labor contract
Mediation
Arrangement
Collective bargaining
Cooperative
37
Money or valuables belonging to an individual or business
Arbitration
Franchise
Assets
Royalties
38
Organization of workers that improves working conditions, wages, and benefits for its members
Labor board
Labor force
Labor union
Featherbedding
39
Corporation that produces/sells goods/services in more than one country
Multinational corporation (MNC)
Nonprofit organization
Offshoring
Professional organization
40
Only one partner is required to be a general partner
Fringe benefits
Limited partnership
Closely held corporation
General partnership
41
Professional or clerical job and usually earns a weekly salary
Grey-collar worker
White-collar worker
Blue-collar worker
Non-collar worker
42
Legal obligation to pay debts
Liability
Assets
Conglomerate
Fringe benefits
43
Merging more than three businesses that produce unrelated products/services
Conglomerate
Association
Cooperative
Multinational
44
Laws that designate certain areas, or zones, for residential/business use
Zoning laws
Trade association
Offshoring
Collusion
45
Bans mandatory union membership
Right-to-work laws
Strike
Labor contract
Collective bargaining
46
Movement of some of a company’s operations to another country
Offshoring
Outsourcing
Featherbedding
Arbitration
47
Share of earnings given by franchisee as a payment to franchiser
Factor payment
Disequilibrium
Equilibrium
Royalties
48
Letting private business do the job of government
Capitalism
Privatization
Communism
Private business
49
Work that requires specialized skills and training
Guest workers
Skilled labor
Labor union
Professional labor
50
Promise by a corporation to repay borrowed money with interest at fixed intervals
Featherbedding
Dividend
Bond
Conglomerate
51
Labor force from another country allowed to live and work in the U.S. only temporarily
Professional labor
Unskilled labor
Guest workers
Skilled labor
