| A | B |
|---|
| a type of business entity that is owned and run by one individual and in which there is no legal distinction between the owner and the business | Sole Proprietorship |
| A legal contract entered into by two or more persons in which each agrees to furnish a part of the capital and labor for a business enterprise | Partnership |
| receives a charter by the state, limited liability, easily transferred stock, ability to raise large amounts of money | Corporation |
| a business organization owned and operated by a group of individuals for their mutual benefit | Cooperative |
| A form of business organization in which a firm which already has a successful product or service (the franchisor) enters into a continuing contractual relationship with other businesses (franchisees) operating under the franchisor's trade name and usually with the franchisor's guidance, in exchange for a fee | Franchise |
| Type of investment in which a partner or investor cannot lose more than the amount invested. | Limited Liability |
| A type of investment in which a partner or investor can lose an unlimited amount of money | Unlimited Liability |
| United States government agency that provides support to small businesses | small business administration |
| a share of ownership in a corporation | stock |
| General term for the organized trading of stocks through exchanges and over-the-counter | stock market |
| Distributions of a company’s profit, paid out to common and preferred shareholders | dividend |
| is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest | bond |
| a union that seeks to unify workers in a particular industry along the lines of the particular craft or trade that they work in by class or skill level | craft union |
| A labor union to which all the workers of a particular industry can belong regardless of their occupation or trade | industrial union |
| the process by which wages, hours, rules, and working conditions are negotiated and agreed upon by a union with an employer for all the employees collectively whom it represents. | collective bargaining |
| An attempt to bring about a peaceful settlement or compromise between disputants through the objective intervention of a neutral party. | mediation |
| the hearing and determining of a dispute or the settling of differences between parties by a person or persons chosen or agreed to by them; legally binding | arbitration |
| a strike by the management to compel a settlement to a labor dispute on terms favorable to the employer. | lockout |
| work stoppage caused by the mass refusal of employees to work | strike |
| designed to assist in the maintenance of the financial well-being of eligible persons; establishing a system of Federal old-age benefits | social security act 1935 |
| allows for collective bargaining, created the National Labor Reltions Board (NLRB) | national labor relations act 1935 |
| created child labor laws and required school attendence until 16 yrs. | fair labor standards act 1938 |
| allowed employees the right not to join unions (outlawing the closed shop) | Taft-Hartley Act 1947 |
| is the body of laws that prohibits anti-competitive behavior (monopoly) and unfair business practices; intended to encourage competition in the marketplace | Anti-trust laws |
| An organization of wage earners formed for the purpose of serving the members' interests with respect to wages and working conditions | Labor Union |
