Labor
This term describes the value of output.
What is productivity?
A business owned and managed by a single individual.
What is a sole proprietorship?
Someone in a professional or clerical job who usually earns a salary.
What is a white-collar worker?
Wendy’s is an example of this.
What is a business franchise?
This term describes an unofficial, invisible barrier that sometimes prevents women and minorities from advancing to the top ranks of businesses.
What is the glass ceiling?
The legally bound obligation to pay debts.
What is a liability?
Workers who require specialized training and skills.
What is skilled labor?
Larry’s Diner is an example of this.
What is a sole proprietorship?
This term describes an organization of workers that tries to improve working conditions, wages, and benefits for its members.
What is a labor union?
A share representing a portion of ownership in a corporation.
What is a stock?
The theory that education increases productivity and results in higher wages.
What is the learning effect?
In this business organization, the owner owns a degree of control and benefits from support of the parent company.
What is a business franchise?
This is the term used to describe the wage rate that produces neither an excess of workers nor an excess demand for workers.
What is the equilibrium wage?
Regulation in a city or town that designates separate areas of residency or business.
What is a zoning law?
A settlement technique in which a 3rd party reviews the case and makes a decision that is legally binding for both sides.
What is arbitration?
According to economic theory, what happens to the quantity demanded of job opportunities in low-paying jobs when the minimum wage goes up.
What is the quantity of labor demanded goes down?
One reason for the glass ceiling is that historically, compared to minorities, whites have had access to more _____ and work ____.
What is education and experience?
Money and other valuables belonging to an individual or business.
What are assets?
This term describes the process in which union and company representatives meet to negotiate a new labor contract.
What is collective bargaining?
This type of employment is defined as temporary jobs or part-time jobs.
What is contingent employment?