Topic 5

3. A type of corporation that issues stock to only a few people
6. Legal obligation to pay debts
10. is a business organization owned by two or more persons who agree on a specific division of responsibilities and profits
11. A certificate of ownership in a corporation
14. 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
16. In this settlement technique, a neutral third party listens to both sides and then imposes a decision.
17. theory that education increases the efficiency of production and thus results in higher wages
18. is a semi-independent business that pays fees to a parent company
20. an organized work stoppage intended to force an employer to address union demands

1. The process in which union and company management meet to negotiate a new labor contract.
2. the quantity of output produced by a unit of labor
3. A legal entity, or being, owned by individual stockholders.
4. The portion of corporate profits paid out to the stockholders
5. A professional or clerical job who usually earns a weekly salary.
7. a business owned and managed by a single individual
8. 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.
9. A formal contract issued by a corporation or other entity that includes a promise to repay borrowed money with interest at fixed intervals
12. Theory suggests that the completion of college signals to the employers that a job applicant is intelligent and hard-working
13. These workers perform manual labor often a manufacturing job, and earn an hourly wage.
15. demand for labor
19. money are other valuables