Topic 5 Project 3

2. work that requires specialized skills and training.
7. the money and other valuables belonging to an individual or business.
12. a business organization owned by two or more persons who agree on a specific division of responsibilities and profits.
13. all nonmilitary people who are employed or unemployed
15. a business owned and managed by a single individual.
16. a legal entity, or being, owned by individual stockholders, each of who has limited liability for the firm’s debts.
18. 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.
19. a retail outlet owned and operated by consumers that sells merchandise to members at reduced prices.

1. the wage rate, or price of labor services, that is set when the supply of workers meets the demand for workers in the labor market.
3. an organized work stoppage intended to force an employer to address union demands.
4. the movement of some of a company’s operations, or resources of production, to another country.
5. an institution that functions much like a business but does not operate for the purpose of making a profit.
6. an authorization from the local government to operate a business.
8. a formal contract issued by a corporation or other entity that includes the promise to repay borrowed money with interest at fixed intervals.
9. a business organization owned and operated by a group of individuals for their shared benefit.
10. the legal obligation to pay debts.
11. a semi-independent business that pays fees to a parent company.
14. an organization of workers that tries to improve working conditions, wages, and benefits for its members.
15. a certificate of ownership in a corporation.
17. the practice of contracting with another company to do a specific job that would otherwise be done by a company’s own workers.