Econ Project 3

2. a settlement technique in which a neutral third party listens to both sides and then imposes a decision that is legally binding for both the company and the union
3. organization an institution that functions much like a business but does not operate for the purpose of making a profit
8. the legal obligation to pay debts
11. association a nonprofit group organized to promote the collective business interests of an of an area or a group of similar businesses
12. a certificate of ownership in a corporation
13. the portion of corporate profits paid out to stockholders
18. the movement of some of a company’s operations, or resources of production, to another country
19. a settlement technique in which a neutral person, the mediator, meets with each side to try to find a solution that both sides will accept
20. proprietorship a business owned and managed by a single individual

1. a legal entity, or being, owned by individual stockholders, each of whom has limited liability for the firm’s debts
4. business organization owned by two or more persons who agree on a specific division of responsibilities and profits
5. the share of earnings given by a franchisee as a payment to the franchiser
6. laborer work that requires specialized skills and training
7. the practice of contracting with another company to do a specific job that would otherwise be done by a company’s own workers
9. laborer work that requires no specialized skills, education, or training
10. a business organization owned and operated by a group of individuals for their shared benefit
14. an organized work stoppage intended to force an employer to address the union demands
15. the money and other valuables belonging to an individual or business
16. laws laws in a city or town that designate certain areas, or zones, for residential and business use
17. a formal contract issued by a corporation or either entity that includes a promise to repay borrowed money with interest at fixed intervals