Topic 5

1. A certificate of ownership in a corporation
2. demand for labor
5. theory that education increases the efficiency of production and thus results in higher wages
7. A formal contract issued by a corporation or other entity that includes a promise to repay borrowed money with interest at fixed intervals
8. These workers perform manual labor often a manufacturing job, and earn an hourly wage.
9. the quantity of output produced by a unit of labor
11. Legal obligation to pay debts
12. is a semi-independent business that pays fees to a parent company
13. money are other valuables
14. technique a settlement techniqur in which a neutral person, the mediator, meets with each side to try to find a solution that both sides will accept it.
15. A professional or clerical job who usually earns a weekly salary.
16. an organized work stoppage intended to force an employer to address union demands
17. The portion of corporate profits paid out to the stockholders
18. In this settlement technique, a neutral third party listens to both sides and then imposes a decision.
19. The process in which union and company management meet to negotiate a new labor contract.

1. Theory suggests that the completion of college signals to the employers that a job applicant is intelligent and hard-working
3. a business owned and managed by a single individual
4. 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
6. A type of corporation that issues stock to only a few people
10. A legal entity, or being, owned by individual stockholders.