Chapter 8 Economics Vocaulary
A ? occurs when one corporation buys most of another corporation's stock
firm
Stockholders have ? for a corporation
limited liability
A corporation has most of the same legal rights as a ?
person
Disadvantage of a franchise include limited ?, and high ? and ?
product, franchising, royalties
nonprofit organizations are more interested in ? than making money
providing a service
A franchise has the advantage of buying into a ?
sucessful business
Like Sole Proprietors, partners have ? for business debts
unlimited liability
The 3 main disadvantages of a Sole Proprietorship are ?, ? and a limited life
unlimited personal liability, limited capital
Conglomerate
A business combination merging more than 3 businesses that produced or services.
Cooperative
A business organization owned and operated by a group of individuals for their shared benefits.
Partnerships
A business organization owned by 2 or more persons who agree on a specific division of responsibility and liability.
Sole Proprietorship
A business owned and managed by a single.
A Sole Proprietorship is easy to ? and to ?
Start, End
Corporations can sell ? and ? to raise money
Stock, Franchise
Horizontal Merger
The combination of 2 or more firms competing in the same good or service.
Liability
The legal obligation to pay debts.
Assets
The money and other valuables belonging to an individual or business.
Dividend
The portion of corporate profits paid paid out to stockholders.
A Sole Proprietorship has ? owner
1
A partnership has ? or more owners
2
Vertical Merger
2 or more firms involved in different stages of producing then same good or services.
Stock
A certificate of ownership in a corporation.
Corporation
A legal entity, or being, owned by individual stockholders, each of whom has limited liability for the firm's debts.
A partnership combines the ? and ? of the partners
Assets, Skills
Business License
Authorization to operate a business issued by a local government.
Types of corporations include and corporations
Closely held, publicly held
Types or partnership include general, ?, and ? partnerships
Limited, Limited liability
? operate in more than one country
Multinational corporations
Fringe Benefits
Payments to employees other than wages or salary.
A franchise is an agreement between a ? and A ?
Person, Parent Company
The owner of a Sole proprietorship does not have to share ? or ? of the business
Profits, Control