Sole Proprietorship/Partnerships
A business that is owned and operated by an individual person.
What is Sole Proprietorship?
An organization of workers that tries to improve working conditions, wages, and benefits from its members.
What is a labor union?
The Chrysler Corporation and Daimler-Benz merged to form a single corporation.
What is horizontal?
Jobs that are expected to grow significantly
What is computer related jobs?
Increases in education result in higher wages.
What is the learning effect?
If Jessica's business does not make enough money to pay back her loan, she will have to sell personal property to cover her outstanding obligation.
What is unlimited personal liability?
The value of a worker's output.
What is productivity?
In the form of money, individuals face limited liability for the firm's debts.
What is stockholders?
An automatic teller machine (self scan register)
What is an example of using physical capital instead of human capital to get a job done
In the beginning of the 1800's, industry initiated the labor union movement in the United States
What is the industrial revolution?
Dr. Lopez shares equal responsibility and liability with her colleagues.
What is a general partnership?
A professional or clerical job who usually earns a salary.
What is a white-collar worker?
A corporation has a separate entity apart from that of the owners and workers.
What is the major difference a corporation?
The quantity of labor demanded goes down.
What is job opportunities wages going up?
The wage rate that gives neither an excess supply of workers nor an excess demand for workers.
What is equilibrium wage?
A general partnership failed and debts are owed.
What is all of the partners responsibility?
Your shoes were designed in the United States but assembled in Asia by a company called check mark victory.
What is multinational corporation?
Bonuses, benefits, and merit increases are all strategies that employers can use to attract and keep qualified employees.
What is business owners attracting laborers?
The use of policies, programs, and procedures to ensure the inclusion of minorities and women in job hiring.
What is affirmative action?
Temporary or part-time employment.
What is contingent employment?
Owners have complete control of the business and all of the profits.
What is a partnership?
An increase in service jobs accompanied by a decrease in manufacturing jobs
What is current labor market trends?
Owning a franchise provides the business owner with management training and support, standardized quality, national advertising programs, financial assistance, and centralized buying power.
Labor unions have worked to raise wages, improve working conditions, and provide job security for their union members. Unions control daily operations of businesses.
What is the impact of Labor Unions?
To be employed, a person must have worked at least 1 hour for pay within the last week, worked 15 hours or more without pay in a family business.
What is criteria use to determine employment?