Topic 5

6. obtain goods or a service from an outside or foreign supplier
8. a management technique that describes the practice of hiring workers
10. foreign workers who are temporarily employed in a host country
12. all people age 16 and older who are classified as either employed and unemployed
13. partnership a business arrangement where two or more individuals agree to share all assets
14. a strategic business combination between companies that operate at different stages
16. an unfair labor practice
18. the idea that education increases productivity and leads to higher wages

1. a business consolidation that occurs when two or more companies
2. the ratio of real output to the amount of labor used to produce
3. the wage rate where the quantity of labor demanded is equal to the quantity of labor supplied
4. gives workers the freedom to choose whether or not to join a labor union in the workplace
5. a contractual agreement where a business owner sells the rights to their business model
7. a type of security
9. the practice of moving business processes or functions to another country
11. a situation where a seemingly observable characteristic
15. the state of being responsible for something
17. the demand for a good or service that arises from the demand