Employment
The labor force is all people who are employed or unemployed except this group?
What is the military?
This type has minimal specialized skills or training. A truck driver or lifeguard might be an example.
What is semi-skilled
A corporation is a legal entity that is owned by who?
What is (individual) stockholders?
The most common type of business, owned and operated by a single individual
What is sole proprietorship?
An organization that tries to improve the working conditions, wages, and benefits of its members is:
What is a labor union?
In order to be considered employed, I must be this many years old
What is 16?
This requires special talents to operate complicated equipment. Your local firefighter is an example:
What is skilled?
Corporations only make up 20% of the country's businesses, but sell this percent of products in our country
What is 90%?
In this type of business arrangement, only one partner is required to be the general partner. Other partners can only lose their initial investment.
What is limited partnership?
What is contingent employment?
This is the number of hours I needed to work last week in order to be considered employed
What is 1?
This has no specialized skills, education or training. Examples are a janitor or a dishwasher
What is unskilled?
This negative aspect occurs when corporate income is reported to the IRS on a business and personal stockholder level.
What is double taxation?
When large firms buy out other large firms (think Disney), these are called what?
What is a Conglomerate?
The process in which a union and company management meet to negotiate a new labor contract is:
What is collective bargaining?
This amount of hours is the threshold for being employed in a family business and receiving no pay.
What is 15?
Requires advanced skill and education. Doctors, lawyers and teachers are types of these
What is professional labor?
Name two of the positive attributes of opening a corporation
What is: Limited liability for owners, easy to transfer ownership, ability to attract capital, life-long business venture
A business that is given the exclusive right to sell a certain product or service in a given area by paying fees to the owner is called?
What is a franchise?
Companies contract another company to do a job that is traditionally done by its own workers, called this
What is outsourcing?
There are 4 different situations that I had a job but I didn't work. Name 3 of the 4
What is : Due to illness, Vacation, labor disputes, or weather
An entrepreneur is a person who has skills to start and manage a business. Name any three of the skills listed
What is: Seek out responsibility, belief in themselves, willing to take risks, high energy, forward thinking, desire to reach full potential, value achievement over money, maintain flexibility when facing a new challenge, committed to their goals.
There are 4 ways that Corporations operate like individuals. Name 3
What is: pay taxes, engage in trade and business, make contracts, can sue or be sued
Two Parts. 1. A business type owned by lots of individuals for their shared benefits is called? 2. A group that is tax exempt because of their mission and benefit to society is called? (must be in correct order)
What is a cooperative organization (co-op), and what is a non (not-for) profit.
Demand for labor is called this; the result of the demand for another good or service
What is Derived?