Topic 5 Project 3

4. a semi-independent business that pays fees to a parent company.
7. a retail outlet owned and operated by consumers that sells merchandise to members at reduced prices.
8. a business organization owned by two or more persons who agree on a specific division of responsibilities and profits.
10. a business owned and managed by a single individual.
11. the legal obligation to pay debts.
14. the money and other valuables belonging to an individual or business.
15. a legal entity, or being, owned by individual stockholders, each of who has limited liability for the firm’s debts.
17. the movement of some of a company’s operations, or resources of production, to another country.
19. a certificate of ownership in a corporation.

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.
2. an institution that functions much like a business but does not operate for the purpose of making a profit.
3. 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.
4. an authorization from the local government to operate a business.
5. all nonmilitary people who are employed or unemployed
6. an organized work stoppage intended to force an employer to address union demands.
9. a formal contract issued by a corporation or other entity that includes the promise to repay borrowed money with interest at fixed intervals.
12. a business organization owned and operated by a group of individuals for their shared benefit.
13. an organization of workers that tries to improve working conditions, wages, and benefits for its members.
16. the practice of contracting with another company to do a specific job that would otherwise be done by a company’s own workers.
18. work that requires specialized skills and training.