Business Orgs.
Sara’s Hair Palace is a small, locally owned beauty salon in Sterling. This represents what type of business?
Sole Prop
Limited liability is an advantage of what type of Business Org.
Corporations
A market that is nearly impossible to enter is called a...
monopoly
Someone who is seeking work but can't find it is called...
Unemployed
A group of employees who join together to collectively bargain with their boss is called.
A Union
Dan has $5,000. He wants to invest his money in the type of business that has the least amount of liability. In which type of business should he invest?
Corporation
Merger is when two businesses do what?
Join together
A market that is controlled by a few strong companies is called..
Oligopoly
True or false, people who are in the military are "employed".
False
When Union members refuse to continue working.
A strike
A business partnership has ___________ who share the risks and the profits.
Two or more
Domino's Pizza and a Flour company joining together is what kind of merger?
Vertical
A market that is NOT easy to enter into
Oli or Mono
The idea that women and minorities have a harder time reaching management positions is called the ________ cieling
Glass
“The process in which union and company representatives meet to negotiate a new labor contract.”
Collective Bargaining
Quick decision making is an advantage of what type of Business Org?
Sole Prop.
US Steel + Ford Motor Company is what kind of merger?
Vertical
The town of Utopia has three gas stations. The owners of these gas stations make decisions together about when to raise and lower gas prices. It would be difficult for another gas station to enter this market. Which market structure best describes the market for gas in Utopia?
Oligopoly
A scientist would be an example of what kind of labor?
Skilled
“A settlement technique in which a third party (arbitrator) reviews the case and imposes a decision that both sides are required to accept.”
Arbitration
Limited Capital is a disadvantage of what type of Business Org?
Sole Prop.
Carrefour and Al Campo joining together would be what kind of merger?
Conglomerate
A new firm recently arrived in Utopia offering much higher internet speeds than existing providers. The other providers have gone out of business because so many Utopian residents have switched to the new provider. What will most likely happen to the price of internet service in Utopia?
Price will increase
Unskilled
“A settlement technique in which a neutral mediator (usually a judge) meets with both sides and suggests a solution for both sides.”
Mediation