Chapter 3 Quiz

Business set up by a charter and has all the rights of an individual

• business organization
• charter
• corporation

Company that is started in order to carry out transactions in a market is called

• stock
• charter
• business organization

Business owned by owned by one person

• sole proprietorship
• partnership
• business

Business owned by 2 or more people

• sole proprietorship
• partnership
• business

Owing money to someone or a business

• profit
• stock
• debt

The education, training, and experience that makes a person useful in the workplace

• human capital
• wages
• labor union

When union leaders meet with employers to discuss working conditions

• conference
• collective bargaining
• partnership

Money that a person is paid for to work

• debt
• wages
• labor union

This is when workers refuse to go into work in order to get the company to listen to their demands

• strike
• ball
• batter

This is an organization that is created to protect workers from unfair working conditions

• collective bargaining
• labor unions
• Avon High School