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LIMITED LIFE
THE STATUS OF A BUSINESS THAT IT IS LEGALLY ENDED WHEN ONE OR MORE OF THE OWNERS DIE OR WITHDRAWS FROM THE BUSINESS
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COLLECTIVE BARGANING
THE NEGOTIATION BETWEEN UNION & MANAGEMENT REPRESENTATIVES OVER SALARIES, BENEFITS AND WORKING CONDITIONS.
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MEDIATION
THE USE OF A THIRD PARTY TO HELP SETTLE A DISPUTE
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UNION
AN AGREEMENT BETWEEN A LABOR UNION & AN EMPLOYER CONCERNING WAGES, HOURS, CONDITIONS OF WORK AND BENEFITS THAT THE EMPLOYEES ARE ENTITTLED TO.
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TAKE HOME PAY
THE AMOUNT ONE RECEIVES AFTER ALL DEDUCTIONS ARE TAKEN FROM ONE'S PAYCHECK.
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PROFITS
MONEY EARNED FROM THE OPERATION OF A BUSINESS AFTER EXPENSES HAVE BEEN PAID.
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UNLIMITED LIABILITY
THE STATUS OF A BUSINESS PERSON WHO IS PERSONALLY RESPONSIBLE FOR ALL DEBTS INCURRED BY HER OR HIS BUSINESS.
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GROSS PAY
THE AMOUNT A WORKER RECEIVES BEFORE DEDUCTIONS ARE TAKEN OUT.
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CAPITAL
THE MACHINES, TOOLS, AND BUILDINGS USED IN THE PRODUCTION OF GOODS & SERVICES; MONEY.
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REFERENCES
IS A RELATION BETWEEN OBJECTS IN WHICH ONW OBJECT DESIGNATES, OR ACTS AS A MEANS BY WHICH TO CONNECT TO OR LINK TO, ANOTHER OBJECT.
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MONOPOLY
A SITUATION IN WHICH THERE IS ONLY ONE PRODUCER OR SELLER OF A GOOD OR SERVICE.
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MASS PRODUCTION
THE MANUFACTURE OF LARGE QUANTITIES OF IDENTICAL PRODUCTS USING INTERCHANGEABLE PARTS, ASSEMBLY LINES, SPECIALIZATION OF LABOR AND MACHINES.
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CAREER
ONE'S AREA OF WORK OVER A LONG TIME
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INJUNCTION
A COURT ORDER NOT TO DO SOMETHING
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ARBITRATION
THE USE OF A THIRD PARTY, CALLED AN ARBITRATOR, TO MAKE A DECISION THAT IS BINDING ON BOTH PARTIES IN A DISPUTE.
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WAGNER ACT
THIS ACT GIVES WORKERS THE RIGHT TO FORM OR JOIN ANY UNION OF THEIR OWN CHOICE, AND THE RIGHT TO STIKE.
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PROPRIETORSHIP
THE OWNER OF A BUSINESS
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CORPORATION
A BUSINESS CHARTERED BY A STATE OR THE FEDERAL GOVERNMENT AS A LEGAL INDIVIDUAL AND IS OWNED BY ITS STOCKHOLDERS.
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LOCKOUT
A TACTIC OF MANAGEMENT IN A LABOR DISPUTE THAT PREVENTS STRIKING WORKERS FROM ENTERING THE COMPANYS PROPERTY.
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BEAR
AN INVESTOR WHO BELIEVES THAT STOCK PRICES WILL DECLINE.
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BULL
AN INVESTOR WHO BELIEVES THAT THE PRICES OF STOCKS WILL INCREASE.
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