LEARNING SURVEY by 5Y5U7F0

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									                                    STUDY GUIDE
                                    CHAPTERS 7-9
                                 BUSINESS AND LABOR
                                     ECONOMICS

Market Structures (know the characteristics of each and be able to give examples of each)
     Perfect Competition


      Monopoly


      Monopolistic Competition


      Oligopoly


Business Organizations (know the definitions of each and be able to give the advantages
and disadvantages of each)
       Sole Proprietorship


      Partnership


      Corporation


Labor Force
      Recent Trends
             ____________________        ____________________
             ____________________        ____________________
             ____________________

      Wages are Determined by the following
            ____________________         ____________________
            ____________________         ____________________

Labor Unions
      Does Collective Bargaining for the following
             ____________________          ____________________
             ____________________          ____________________

      Ways to Solve a Labor Dispute
            ____________________         ____________________
            ____________________         ____________________
COMMON ASSSESSMENT FREE RESPONSE QUESTION. You will answer one of the
following three chapter questions at random on the test day. The question will be selected
by the teacher in class.

Chapter 7

Please answer the following questions in essay (paragraph) format.

   1. List two different characteristics of a perfectly competitive market structure. Please
      identify one industry that operates in a perfectly competitive market structure.
   2. List two different characteristics of a monopoly market structure. Please identify one
      industry that operates in a monopoly market structure.
   3. List two different characteristics of a monopolistically competitive market structure.
      Please identify one industry that operates in a monopolistically competitive market
      structure.
   4. List two different characteristics of an oligopoly market structure. Please identify one
      industry that operates in an oligopoly market structure.

Chapter 8

Please answer the following questions in essay (paragraph) format.

   1. List two different advantages of a sole proprietorship. Please list one example of one
      specific business that operates as a sole proprietorship.
   2. List two different advantages of a partnership. Please list one example of one specific
      business that operates as a partnership.
   3. List and explain two different advantages of a corporation. Please list one example of one
      specific business that operates as a corporation.

Chapter 9

Please answer the following questions in essay (paragraph) format.

   1. There are many different trends in the labor force in today’s economy. Please identify
      one of these trends and please explain what an employer must be prepared to do to deal
      with today’s employees (workers) with respect to the one trend that you identified.
   2. List one item that labor unions collectively bargain for and list and define one technique
      that labor unions and management may use to settle a labor dispute.

								
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