Vocab
Ch14 1-2 Questions
Growth of Wage Labor
Weapons of labor and business
100
A person that starts a business
What is a entrepreneur?
100
Laws of supply and demand
What is the market price determined by?
100
Organizations of workers that seek to improve wages and working conditions and to protect members' rights.
What are Labor unions?
100
Workers don't produce products fast enough.
What is a slow down?
200
A payment for the use of the capital.
What is interest?
200
interest
What payment do producers exchange for the use of capital?
200
Improvements in farm machinery.
What were the changes made in the 1800's?
200
People tell customers not to buy a product.
What is a boycott?
300
The amount of a product or service that buyers are willing and able to buy at different prices.
What is demand?
300
Rent, interest, wages, and salaries
Which payment do business exchange for factors of production?
300
Workers refuse to work unless employers meet certain demands.
What is a strike?
300
Workers stand outside of their work place and petition.
What is a strike?
400
A business owned by an individual.
What is a sole proprietorship?
400
The owner keeps all of the profits.
What is an advantage of a sole proprietorship?
400
contract in which they promised to never join a union.
What are yellow dog contracts?
400
The owner comes in and locks you out of the facilities.
What is a lock out?
500
The price at which buyers and sellers agree to trade.
What is Market price.
500
To raise large amounts of money.
Why do corporations sell stock?
500
a person that crosses the line and goes to work.
What is a scab?
500
Head of the union will negotiate for the entire group.
What is collective bargaining?
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