Unit 2: Vocabulary

2. moral principles that govern a person's behavior or the conducting of an activity.
4. the activity of buying and selling, especially on a large scale.
8. a system of ideas and ideals, especially one which forms the basis of economic or political theory and policy.
9. Collective bargaining is the process in which working people, through their unions, negotiate contracts with their employers
10. Regulatory economics is the application of law by government or regulatory agencies for various economics-related purposes

1. is an occupation to which a person is especially drawn or for which they are suited, trained or qualified.
3. an agreement or a settlement of a dispute that is reached by each side making concessions.
5. Manual work is physical work done by humans
6. a refusal to work organized by a body of employees as a form of protest, typically in an attempt to gain a concession or concessions from their employer.
7. the exclusive possession or control of the supply of or trade in a commodity or service.