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