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38 Cards in this Set
- Front
- Back
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Partnership |
a business owned by two or more people |
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strike |
a situation in which all workers in the union refuse to go to work |
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union ship |
companies can hire workers who do not belong to a union. however, the workers have to join the union once they start working |
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lock out |
company blocks workers from coming into the buildings until they agree to the contact terms |
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corporation |
thousands of workers |
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discrimination |
American Disability Act of 1990 Treat employees differently on the basis of race, religion, color, gender, or age. |
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featherbedding |
unions force companies to hire more workers than it needs. makes unions bigger. |
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Carnagie- Steel Industry |
Homestead Strike 1896 |
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Labor Unions |
group of workers who band together to have a better chance to obtain higher pay and better working conditions |
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Largest labor union in America |
American Federation of Labor and the Congress of Industrial Organizations |
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Picket Line |
Line created by striking workers holding signs |
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Right to work laws |
many states have passed which prevent unions from forcing workers to join, KY doesn't have these laws |
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Mediation |
situation in which union and company officials bring in a third party to try to help then reach an agreement |
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Not-for-profit organization also give an example |
there to help it's members |
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Collective Bargaining |
officials from the union and from the company meet to negotiate the workers' contact |
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Limited Liability |
only the corporation, and not it's owners, is responsible for the debts of the corporation |
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Unlimited Liability |
owner is financially responsible for all problems related to the business or if you are sued they can take your house or property |
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Proprietorship |
1 ownership |
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Stock |
ownership shares |
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Taft Hartley Act 1947 |
closed shops became illegal |
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scabs/strikebreaker |
the 2 names for the people that a company hire to replace the striking workers |
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Arbitration |
a process which a third party listens to both sides and then decides how to settle the disagreement |
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Sole Proprietorship, Partnership, Cooperation |
three ways businesses are organized |
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Trade/craft union, industrial union |
the different types of unions |
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Closed shop- worker had to belong to the union in order to be hired by a company. Union shop- companies can hire non union people but they must join once they begin working |
What is the difference between a closed shop and a union shop? |
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You get all the profits. You make all the decisions. |
major advantage of sole Proprietorship |
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Raise more money. No Corporate tax. |
Two advantages of partnership |
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Who actually runs a corporation |
Board of Directors |
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cooperative |
there to help it's members benefit someway in the economy |
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stock owners |
someone who buys stock in a business |
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César Chávez |
first farm workers union 1965 |
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modified union shop |
you don't have to join a union after you're hired |
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Social Responsibility |
the obligation to pursue goals that benefit the society as well as themselves |
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What are the responsibilities of businesses to consumers, owners, employees, and their communities? |
Consumers- products are safe, truthful advertisement. Owners- release important financial info. regularly. Transparency. Employees- Safe workplace, no discrimination Community- social responsibility |
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In what ways are businesses producers? |
They provide a good or a service |
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Why are corporations required to provide financial information about the business? |
To protect stockholders |
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How are negotiations between unions and management conducted? |
representatives of each |
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What method do workers use to force companies to accept the union's terms? |
Go on strike |
