Show:
A
B
C
D
E
100
What is the most common form of business in the United States
Sole proprietorship
100
Why have franchises become popular in recent years?
They offer some degree of control to the owner, while maintaining support from the parent company
100
The Knights of Labor was an example of what type of union
Industrial Union
100
What generally happens to equilibrium wage when demand for workers is low and supply for workers is high?
Equilibrium wage decreases
100
The combination of two or more firms competing in the same market with the same good or service
Horizontal merger
200
What is the biggest disadvantage of sole proprietorships
Unlimited personal liability
200
List the three types of cooperatives
Consumer cooperative Service cooperative Producer cooperative
200
Which of the following pieces of legislation outlawed yellow-dog contracts
Norris-La Guardia Act
200
T/F – Union members tend to earn higher wages than nonunion workers in similar jobs.
TRUE
200
Business combination merging more than three businesses that make unrelated products
Conglomerate
300
The legally bound obligation to pay debts.
Liability
300
Nonprofit organizations are exempt from what
Income tax
300
T/F – Michigan is a right-to work state
TRUE
300
The theory that the completion of college indicates to employers that a job applicant is intelligent and hard–working
Screening effect
300
Payment other than wages of salaries
Fringe benefit
400
What is the purpose of the Uniform Partnership Act
It ensures that partnerships are formed according to a common set of rules and standards
400
A nonprofit organization that works to improve the image, working conditions, and skill levels of people in particular occupations
Professional organization
400
A settlement technique in which a neutral individual meets with each side to try to find a solution that both sides will accept.
Mediation
400
Corporation that issues stock to only a few people, often family members
Closely held corporation
400
List the three main goals of labor unions
Wages and benefits Working conditions Job security
500
A large corporation that produces and sells its goods and services throughout the world.
Multinational corporation
500
Labor unions arose largely in response to changes brought by the…
Industrial Revolution
500
What is the wage rate called at which there is neither excess supply of or demand for workers?
Equilibrium wage
500
The combination of two or more firms involved in different stages of producing the same good or service
Vertical merger
500
The practice of negotiating labor contracts that keep unnecessary workers on a company's payroll
Feather bedding