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Chapter 22
 

Chapter 22

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    Chapter 22 Chapter 22 Document Transcript

    • Civics and Economics VocabularyChapter 22 - Section OneSole Proprietorship- a business owned and operated by a sole, or single personSimilarity/Difference:Sentence:Financial Capital- the money needed to run a business or enable it to grow largerSimilarity/Difference:Sentence:Partnership- a business that two or more people own and operateSimilarity/Difference:Sentence:Articles of Partnership- document identifies how much money each of you will con-tribute and what role each partner will play in the businessSimilarity/Difference:Sentence:Corporation- an organized business recognized by law that has many of the rights andresponsibilities of an individualSimilarity/Difference:Sentence:Charter- a government document granting permission to organizeSimilarity/Difference:Sentence:Stock- ownership shares of the corporation, that will be issuedSimilarity/Difference:Sentence:Stockholder- people who buy this stockSimilarity/Difference:Sentence:Board of Directors- managers to run the corporation on a daily basisSimilarity/Difference:Sentence:Cooperative-a voluntary association of people formed to carry on an economic activitythat benefits its membersSimilarity/Difference:Sentence:Tara Pawlyk Friday, May 17, 2013 8:20:33 AM ET 04:0c:ce:d3:10:88
    • Chapter 22 - Section TwoLabor Union- groups of workers who band together to have a better chance to obtainhigher pay and better working conditionsSimilarity/Difference:Sentence:Right-to-Work Law- prevent mandatory union membership required by the union shopSimilarity/Difference:Sentence:Collective Bargaining- Officials from the union and the company meet to discuss theworkersʼ new contractSimilarity/Difference:Sentence:Mediation- bring in a third party who tries to help them reach a compromise agreementSimilarity/Difference:Sentence:Arbitration- A third party listens to both sides, then decides how to settle thedisagreementSimilarity/Difference:Sentence:Strike- all workers in the union refuse to go to workSimilarity/Difference:Sentence:Boycott- refuse to buySimilarity/Difference:Sentence:Chapter 22 - Section 3Transparency- making publicSimilarity/Difference:Sentence:Discrimination- treat employees differently on the basis of race, religion, color, gender,age, or disabilitySimilarity/Difference:Sentence:Social Responsibility- the obligation to pursue goals that benefit society as well asthemselvesSimilarity/Difference:Sentence:Tara Pawlyk Friday, May 17, 2013 8:20:33 AM ET 04:0c:ce:d3:10:88