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Franchise - ✔✔a contractual agreement between a
parent company and a franchisee to distribute goods and services
Corporation - ✔✔a form of business ownership that is owned by stockholders
who
have purchased units or shares of the company
Elastic Demand - ✔✔demand that changes according to changes in price
Inelastic Demand - ✔✔demand that is not affected by changes in price.
Unitary Demand - ✔✔when sales remain the
same because changes in supply and demand are equal
Tort - ✔✔a private wrongdoing that potentially harms another person or entity
Doctrine of Sovereign Immunity - ✔✔the universally accepted principle that
each nation has the right to manage its own government and develop
its own laws.
Job Enlargement - ✔✔combining different tasks into one position
Job Rotation - ✔✔moving from one job to another job within an organization
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, Specialization by Trade - ✔✔the type of work that a person performs in order to
earn a living, such as engineering, public-relations, or accounting.
Frictional Unemployment - ✔✔occurs because there are always workers who
are in transition
Structural Unemployment - ✔✔when the demand for certain types of workers
declines and is often due to technology advancements and the need for new
skills
Cyclical Employment - ✔✔result of changes in the economic and business cycles
Wage Garnishments - ✔✔court-ordered initiatives that involve taking income
taken from an employee's salary and submitting it to another person or
organization
Embezzlement - ✔✔theft of valuables that have been entrusted to another's
care
Securities Fraud - ✔✔the use of misleading sales tactics to persuade investors to
purchase securities
Espionage - ✔✔revealing confidential information without the source or
owner's permission and is often associated with spying
Variety-seeking Buying Behavior - ✔✔involves the purchase of routine items
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