© 2012 best teacher resources a b c d e f 1 234 5 6 7 ??????? ??????? ??????? ??????? ???????...

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Money needed to start or expand a business.

Financial Capital or Business Nest Egg?

Question A1

Question A2

The process of turning an invention into a marketable product.

Discovery or Innovation?

Question A3

The simplest form of business ownership where a firm is owned and managed by a single individual.Sole Proprietorship or Individual Corporation?

Question A4

The legal obligation to pay any debts of a business.

Liability or Legal Debt?

Question A5Two or more individuals who agree to contribute resources to a business in return for a share of the profit.Dual Ownership or Partnership?

Question A6

The most common type of partnership where partners share both in the responsibility for running the business and in any liability from the operation.

General Partnership or Common Partnership?

Question A7

A partnership where at least one partner is required to be a general partner.

Unlimited Partnership or Limited Partnership?

Question B1

A legal entity with an existence that is distinct from the people who organize it, own it, and run it.Corporation or Partnership?

Question B2

A written application to a state seeking permission to form a corporation.

Business License or Articles of Incorporation?

Question B3

A corporation that issues stock to just a few people, sometimes only family members.

Limited Stock Corporation or Private Corporation?

Question B4

A corporation that has many shareholders who can buy or sell shares of stock.

Common Corporation or Publicly Traded Corporation?

Question B5

A type of corporation that combines limited liability protection of the corporation with the single taxation feature of a partnership. Must have no more than 75 stockholders with no foreign stockholders.

S Corporation or Limited Liability Corporation?

Question B6

Business with limited liability for some owners, single taxation of business income, and no ownership restrictions.

S Corporation or Limited Liability Corporation (LLC)?

Question B7

Like a limited liability company but more easily converted from an existing partnership.

Limited Liability Partnerships (LLP) or Convertible Partnership?

Question C1

An organization consisting of people who pool their resources to buy and sell more efficiently than they could independently.

Company Employee Pool or Cooperative?

Question C2

Groups that do not pursue profit as a goal; they engage in charitable, educational, humanitarian, cultural, professional activities, often with a social purpose.

Not-for-profit Organizations or Social Cause Organizations?

Question C3

The demand for a resource that arises from the demand for the product that resource produces.

Resource Demand or Derived Demand?

Question C4

The value of output produced by a resource.

Productivity or Generated Product?

Question C5

The wage at which the quantity of labor firms want to hire exactly matches the quantity workers want to supply.

Balanced Wage or Equilibrium Wage?

Question C6

One resource can replace another in production; an increase in the price of one resource increases the demand for the other.Fluctuating Resources or Resource Substitutes?

Question C7

One resource works with the other in production; a decrease in the price of one increases the demand for the other.Demand Resource or Resource Complements?

Question D1Establishes a minimum amount that an employer can pay a worker for an hour of labor

Minimum Wage Law or Right to Wages Law?

Question D2A group of workers who join together to seek higher pay and better working conditions by negotiating a labor contract with their employers.Labor Union or Organized Labor Staff?

Question D3State law that says a worker at a union company does not have to join the union or pay union dues to hold a job there.

Right-to-work Law or Law of Union Dues?

Question D4

The process by which representatives of the union and the employer negotiate wages, employee benefits, and working conditions.

Collective Bargaining or Negotiated Union Process?

Question D5

An impartial observer brought in when labor negotiations break down, to suggest how to resolve differences.

Corporate Negotiator or Mediator?

Question D6

When labor negotiations break down and the public interest is involved, a neutral third party is brought in to impose a settlement that both sides must accept.Binding Arbitration or Legal Settlement?

Question D7

A labor union’s attempt to withhold labor from the firm.

Walk Out or Strike?

Question E1

Union efforts to force employers to hire more workers than demanded for the task.Stacking or Featherbedding?

Question E2Annual interest expressed as a percentage of the amount borrowed or saved.Interest Rate or Borrowed Percent?

Question E3

A downward sloping curve showing the negative relationship between the interest rate and the quantity of loans demanded.

Demand for Loans Curve or Negative Correlation Curve?

Question E4

An upward sloping curve showing the positive relationship between the interest rate and the quantity of loans supplied.

Relative Interest Curve or Supply of Loans Curve?

Question E5

The market that brings together borrowers and savers to determine the market interest rate.

Market for Loans or Market for Goods?

Question E6The only interest rate at which the quantity of loans demanded equals the quantity of loans supplied.

Balanced Interest Rate or Equilibrium Interest Rate?

Question E7Banks and other institutions that serve as go-betweens, accepting funds from savers, and lending them to borrowers.

Financial Intermediaries or Consultants?

Question F1

The ability to borrow now, based on the promise of repayment in the future.

Credit or Trustworthiness?

Question F2

An arrangement with a bank through which a business can quickly borrow needed cash.

Emergency Stash or Line of Credit?

Question F3

The interest rate lenders charge for loans to their most trustworthy business borrowers.

Borrowers Rate or Prime Rate?

Question F4

An asset owned by the borrower that can be sold to pay off the loan in the event the loan is not repaid.

Collateral or Liquid Assets?

Question F5

F5 - The initial sale of corporate stock to the public.

Base Line Offering or Initial Public Offering (IPO)?

Question F6

That portion of after-tax corporate profit paid out to shareholders.

Share or Dividend?

Question F7

That portion of after-tax corporate profit that is reinvested in the firm.

Retained Earnings or Reinvestment Earnings?

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