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Business Organizations & Labor Flashcards | StudBud
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Business Organizations & Labor
Business Organizations & Labor
25 terms
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StudBud Administration
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700 plays
An #economicsreview of unit 2 covering #bussinessorganizations and #labor
Flashcards
25 cards
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Practice quiz
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Host live
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Questions
25
Answers
1
How have right-to-work laws affected union membership?
They have increased union membership
They have kept membership rates steady
They have decreased union membership
They have had no effect on union membership
2
When a third party meets with each side in a dispute to find a solution both sides will accept
Collective bargaining
Screening effect
Mediation
Arbitration
3
Money or other valuables belonging to an individual or business
Liabilities
Debts
Royalties
Assets
4
Labor unions were formed because workers wanted to change:
Dangerous working conditions and long hours of factory jobs
Practice of featherbedding in the railroad industry
Hiring and maintaining the most highly skilled workers
1938 Fair Labor Standards Act which banned child labor
5
Demand for labor caused by the demand for another good or service:
Derived demand
Law of demand
Limited demand
Marginal demand
6
What is it called when union and company management meet to negotiate a new labor contract?
Collective bargaining
Arbitration
Outsourcing
Offshoring
7
When a neutral third-party listens to both sides in a dispute and then imposes a decision:
Arbitration
Mediation
Featherbedding
Collective bargaining
8
Three dairy farmers decide to come together and create an organization to sell their milk:
Consumer cooperative
Service cooperative
Labor union
Producer cooperative
9
What is an organized work stoppage intended to force an employer to address union demands?
Strike
Collective bargaining
Derived demand
Arbitration
10
Legal obligation to pay debts
Asset management
Mediation
Vertical merger
Liability
11
Which of the following is a disadvantage of a sole proprietorship?
Difficult to start up
Lack of permanence
Legal constraints
High taxes
12
Temporary and part-time jobs are examples of:
Contingent employment
Unemployment
Outsourcing
Professional labor
13
A KEY reason an entrepreneur might choose to establish a corporation rather than a partnership:
ability to pass the business on to children
limited start-up costs
equal sharing of profits
no personal liability
14
the federal government watches mergers to ensure they do not threaten:
Taxes
Profits
Competition
Production costs
15
Which group is counted in the labor force?
retired workers
discouraged workers
workers without jobs who are seeking employment
active military personnel
16
Institution that operates for a purpose other than generating profit
Nonprofit organization
Partnership
Conglomerate
Multinational corporation
17
One reason the strength of labor unions has declined in recent years is that:
Manufacturing jobs have decreased
Unions oppose free trade
More women have joined the workforce
Union dues have become too expensive
18
Ellen decided that her catering business was too stressful-she easily closed it because it was
A closely-held corporation
A sole proprietorship
A general partnership
A producer cooperative
19
All nonmilitary people who are employed or unemployed:
Labor force
Skilled labor
Professional labor
Strike force
20
Which of the following would be considered no longer part of the labor force?
Anyone who worked only one hour for pay within the past week
Anyone who has a job, but was out sick for more than a week
Anyone who had sought work but has given up looking for work
Anyone who worked 15 hours in a family business for no pay
21
Acme Party Supply is a consumer cooperative-its prices are lower than other stores because it
Helps members sell their products
Charges annual membership fees
Makes little profit
Buys goods in large quantities
22
Business organization owned by two or more people who agree on a division of responsibilities
Conglomerate
Partnership
Nonprofit organization
Business franchise
23
If a general partnership fails, who is responsible for its debts?
The partnerships' employees
No one
All of the partners
Only one partner
24
Foreign-born workers allowed to live and work in the United States temporarily:
Professional workers
Clerical workers
Contingent workers
Guest workers
25
A business that pays fees to a parent company for the exclusive right to sell a good/service
Business franchise
Conglomerate
Nonprofit organization
Partnership
