| A | B |
|---|
| Corporation | A legal ebtuty owned by individual stockholders. |
| Stock | A share representing a portion of ownership in a corporation |
| Closely held dcorporation | corporation that issued by a corporation which promises to repay with interest the amount it barrowed from |
| Dividend | The corporation of corporate profits paid out to stockholders |
| Horizonal Merger | the combination of two or more firms competing in the same market with the same good or service |
| Vertical Merger | The combination of two or more firms involved in different stages of producing the same good or service |
| Conglomerate | business combination merging more than three businesses that make unrelated products |
| Multinational Corporation | Larger corporation that produces and sells its goods and services throughout the world. |
| Business Franchise | A Semi- Independent business that pays fees to a parents company in return for the exclusive right to sell a certain product or service in a given area |
| Royalty | Share of earnings given as payment |
| Cooperative | A business organization owned and operated by a group of individuals for their mutual benefit |
| Consumer Cooperative | Retail outlet owned and operated by consumers |
| Service Cooperative | Cooperative that provides a service rather than a good |
| Producer Cooperative | Agriculture marketing cooperative that helps members sell their products |
| Nonprofit organization | insisution that functions much like a business but does not operate in order to generate profits |
| Professional Organization | Nonprofit organization that works to improve the image, working condition, and skill levels in people in particular occupations |
| Business Association | Nonprofit organization that promotes collective business interests for a city, state, or other geographical area, or for a group of similar businesses |
| Trade Association | Nonprofit organization that promotes the interests of a particular industry |
| Publicly held corporation | A corporation that sells stock on the open market |
| Bond | A certificate isued by a corporation, which promises to repay with interest the amount it borrowed from the buyer |
| Labor Union | Workers that tries to improve working conditions wages and benefits for its members |
| Strike | When workers stop working for better demands |
| Industrial Union | An organization of workers in variety of occupation within a single industry |
| Craft Union | An organization of workers in a single occupation, or craft |
| Blue Collar Worker | Someone who works in an industrial job often in a manufacturing and who recieves wages |
| Closed Shop | A workplace that hires only union members |
| Union Shop | a workplace that will hire nonunion members but requires them to join the union within a certain period of time |
| Agency Shop | a workplace that will hire nonunion workers and does not require them to join the union |
| Collective Bargaining | The process in which union and company representatives meet to negotiate a new labor contract |
| Mediation | A settlement technique in which a neutral mediator meets with each side to try to find a solution that both sides will accpet |
| Arbitration | A settlement technique in which a third party reviews the case and imposes a decision that is legally binding for both sides |
| Labor Force | All non military people who are employed or unemployed |
| Productivity | Value of output |
| Unskilled labor | Labor that requires no specialized skills education or training |
| Semi-skilled labor | Labor that requires minimal specialized skills and education |
| Skilled labor | Labor that requires specialized skills and training |
| Affirmative Action | Use of policies programs and procedures to ensure the inclusion of minorities and women in job hiring, college admission, and the awarding of gov. contracts |
| Glass Ceiling | An unofficial, invisible barrier that prevents women and minorities from advancing in business dominated by white man |
| White collar worker | Someone in a professional or clerical jon who usually earns a salary |
