Economics Vocab

2. Provide a service like health and legal care or credit unions
6. Benefit is the farmer/rancher can focus on their job and not advertising
8. Headquartered in one country but operating in many
10. No owner often run by a board
11. A business organization owned and operated by a group of individuals for their shared benefit
12. Be temporarily without work but have looked for work within the last four weeks
13. Work 15 or more hours unpaid at a family business
15. Owned by individual stockholders
16. When two or more firms involved in different stages of production join together
17. Semi independent business that pays fees to a parent company for the exclusive right to sell something in an area
18. All nonmilitary people who are employed or unemployed
19. Purpose is to increase wages and better the working conditions of the members
20. The out of court resolution of a dispute between two parties to a contract

1. Sell merchandise to members at reduced prices
3. Has decreased in recent years due to competition
4. A merger of three or more unrelated businesses joining
5. When two or more firms competing in the same market join
7. In this wages are usually paid according to the value of what they produce
9. Business owned by one person
14. Business owned by 2 or more people who agree on a division of responsibilities and profits