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Pickett

Demonstrate or march before a place of business to protest a company's actions

Give Back

Wage, fringe benefit, or work rule given up when renegotiating a contract

GDP

Dollar value of all final goods, services, and structures produced within a country's national borders during a one - year period

Horizontal Merger

Combination of two or more firms pro ducting the same kind of product

Industrial Union

Labor union not affected with the AFL - CIO or the Change to WIn Coalition

Inflation

Rise in the general level of prices

Interest

Payment made for the use of borrowed money; usually paid at periodic intervals for long - term bonds or loans

Inventory

Stocks of goods held in reserve; includes finished good waiting to be sold and raw materials to be used in production

Labor

People with their all abilities and efforts; one of four factors of production does not include the entrepreneur

Laissez - fare

Philosophy that government should not interfere with business activity

Lockout

Management refusal to let employees work until company demands are met

Deficit Spending

Annua government spending in excess of taxes and other revenues

Market Economy

Economy system in which supply, demand, and the price system help people make decisions and allocate resources; same as free enterprise economy

Merger

Combination of two or more business enterprises to form a single firm

Mixed Economy

Economic system that has some combination of traditional, command, and market economies; also see market modified free enterprise economy

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