Econ Unit 3 Review: Business and Labor

When disagreeing sides agree to follow the decision of a neutral third party and it's "binding"

Business that sells stock to investors.

Work that requires advanced skills and education (Degree Attainment).

By banding together, workers have the potential for more power if they join a

Share of profits that a franchise pays to its parent company.

Stockholder's share of a company's profit.

Sending work overseas to save money.

Neutral third party who listens to both sides and makes suggestions.

Stopping work to when collective bargaining stalls out.

Negotiating a contract that includes unneeded workers.

If a general partnership fails, who is responsible for its debts?

Some critics of min. wage feel if it is raised, which of the following will take place?

When corporations are taxed on their income and their stockholders are taxed on their dividends

Business org. based on the belief that if individuals work together they can benefit 1 another.

Corporation made up several companies that make unrelated goods or services.

Which sums up the argument that unions are not needed anymore?

All nonmilitary workers, employed or unemployed that could work if they wanted to our had work.

Large business that operates in more than one country.

Samuel Gompers started the U.S. labor movement. What did he do?

Business owned by one person.

Amount that workers produce in a given time.

Anything given to workers in addition to wages, such as paid vacation time.

Permission from the local government to run a business.

Money or other valuables belonging to a person or business.

Foreign-born workers allowed to work in the United States temporarily.

Theory that education increases efficiency and thus results in higher wages.

Legally responsible for the actions of your business.

Which is true of most non-profit organizations?