ECON CH. 8 - QUIZ
credit union
1) nonprofit service cooperative that accepts deposits, make loans, and provides other financial services 2) accepts deposits, makes loans, and provides other financial services
labor union
1) organization that works for its members' interests concerning pay, working hours, health coverage, fringe benefits, and other job-related matters 2) represents workers' interest in various employment matters
common stock
a form of corporate ownership giving one vote per share for stockholders
horizontal merger
combination of firms producing the same kind of product
venture capitalist
lender of investment funds to a start-up business in exchange for partial ownership of business
nonprofit organization
operates like a business but doesn't seek financial gain
cooperative
performs economic activity for the benefit of its members
incubator
place where entrepreneurs can receive the training to build a successful start-up business
chamber of commerce
promotes the welfare of its business members
limited life
situation in which a firm legally ceases to exist when an owner dies or quits, or when a new owner is added
crowdfunding
using social networking to appeal to potential investors
general partnership
all partners are equally responsible for management and debts
preferred stock
form of stock without vote, in which stockholders get their investments back before common stockholders do