Economics vocab

2. method of distributing products or services involving a franchisor
4. an agreement in which one company hires another company to be responsible for a planned or existing activity that is or could be done internally
7. union between two companies in the same industry but at different stages of the production process
8. issued by governments and corporations when they want to raise money
9. all people age 16 and older who are classified as either employed and unemployed
10. the process by which education increases productivity and results in higher wages
11. the practice of basing some of a company's processes or services overseas, so as to take advantage of lower costs.

1. merger between firms that produce and sell the same products
3. the state of being responsible for something, especially by law.
5. A business arrangement by which two or more individuals agree to share in all assets, profits, and financial and legal liabilities
6. the theory that the completion of college indicates to employers that a job applicant is intelligent and hard-working