Types of business AW
This business type has two or more owners who make the decisions.
Partnership
When the owner of a business dies or quits the business will remain unchanged.
Unlimited lifespan
The obligation to pay debt.
Liability
There is only one buyer or seller in this market type.
Monopoly
The people make the choices when resources are limited.
Scarcity
Some examples of this business type are Coca-Cola, Publix, Amazon, and other franchises.
Company LLC?
A business owner is fully responsible for their business's debts and obligations.
Unlimited liability
A portion of after tax corporate profit, paid out to the shareholders.
Dividend
Important features of a market, including the number of buyers and sellers, product uniformity across sellers, ease of entering the market, and forms of a competition.
Market structure
People and businesses produce goods and services.
What is production?
This business is owned by shareholders and board members.
Company LLC
Taxation is based on what the business earns.
Deregulation
All products are the same in this market type.
Pure/perfect market type
Production of and welfare grow over time.
Growth
Partnership
Tax is payed on earnings, and shareholders pay taxes on their dividends.
Double taxation
The study of the economic behavior of the economy as a whole.
Macroeconomics
This market type is closely controlled and it depends on competitors.
Oligopoly
How people use goods and service.
Consumption
This business type has unlimited liability, limited business span, the owner makes the decisions, and they have a single tax type.
What is sole proprietorship?
When the owner of a business passes away or quits the business will close.
Limited lifespan
This outlawed creation of trusts, restraint of trade, and monopolization.
Some examples of this are fast food and local restauraunts.
The study of how individuals and societies make choices about producing, distributing, and consuming scarce resources.
Economics