| A | B |
|---|
| corporation | a legal entity owned by individual stockholders |
| sole proprietorship | a business owned and managed by a single individual |
| vertical merger | two or more firms involved in different stages of making the same good or service |
| liability | the legally bound obligation to pay debts |
| consumer cooperative | a retail outlet owned by consumers |
| strike | An organized work stoppage |
| arbitration | when a third party reviews a case and makes a legally binding decision. |
| labor force | all nonmilitary people that are employed and unemployed. |
| screening effect | the theory that the completion of college tells employers that a job applicant is reasonably intelligent and hard-working |
| glass ceiling | invisible barrier that prevents some women and minorities from advancing to top-level corporate positions in businesses dominated by white men |
