Sole Proprietorship
A business owned and managed by a single individual.
What is "Sole Proprietorship"?
A business organization owned by two or more persons who agree on a specific division of responsibilities and profits.
What is "Partnership"?
What is "Stock"?
A type of demand that is set by the demand for another good or serviced.
What is a "Derived Demand"?
An organized work stoppage intended to force an employer to address union demands.
What is "Strike"?
An authorization from the local government to operate a business.
What is a "Business License"?
One partner is required to be a general partner.
What is a "Limited Partnership"?
What is a "Bond"?
The quantity of output produced by a unit of labor.
What is the "Productivity of Labor"?
Someone in a professional or clerical job who usually earns a weekly salary.
What is a "White-Collar Worker"?
Payments to employees other than wages or salaries, such as paid vacation, retirement pay, and health insurance.
What are "Fringe Benefits"?
A partnership agreement.
What is "Articles of Partnership"?
Businesses that have the advantage of limited liability for owners, which all corporations enjoy. Tax advantages are included.
What is "Limited Liability Corporations" (LLCs)?
The wage rate, or price of labor services, that is set when the supply of workers meets the demand for workers in the labor market.
What is an "Equilibrium Wage"?
The process in which union and company management meet to negotiate a new labor contract.
What is "Collective Bargaining"?
Prohibits sole proprietors from operating businesses out of their homes.
What are "Zoning Laws"?
A semi-independent business that pays fees to a parent company.
The portion of corporate profits paid out to stockholders.
What are "Dividends"?
An unofficial barrier that sometimes prevents some women and minorities from advancing to the top rank of organizations dominated by men.
What is a "Glass Ceiling"?
A measure that bans mandatory union membership.
What is "Right-to-Work Laws"?
the ownership structure of a company or firm.
What is a "Business Organization"?
What is a "Limited Liability Partnership" (LLP)
A type of corporation that sells stock on the open market.
An organization of workers that tries to improve working conditions, wages, and benefits for its members.
What is "Labor Union"?
Someone who performs manual labor, often in a manufacturing job, and who earns an hourly wage.
What are "Blue-Collar Workers"?