Sole proprietorships AL
How many owners in a sole proprietorship?
One
what is the price control of a pure competition?
no price control
how many buyers+ sellers does oligopoly have?
what is few
How many owners does a partnership have?
Two or more people that agree to contribute resources to the business in return for a share of the profit.
Business structures that provides owners with limited liability protection is what?
company llc
Who is the decision maker in a sole proprietorship?
The owner
a local restaurant an example of?
monopolistic competition
what is the price control of monopoly?
what is high
What type of liability does a partnership have?
Unlimited Liability
The type of owners Publix has is
Shareholders/ board members
What is the business lifespan of a sole proprietorship?
Limited
the similarity between pure competition and monopolistic competition
number of buyer and sellers
What is the product differentiation of oligopoly?
What is some on a non price basis
What happens to a business if the owners die or quit in a partnership (Business lifespan)?
The partnership can be dissolved and the business will close (Limited).
The tax type for Starbucks is
Double taxes
What is the tax type for a sole proprietorship?
Single
what is the difference in product variation between monopolistic and pure competition?
pure competition has the same product while monopolistic competition has different products
What is an example of a monopoly?
what is Utilities, cable and pharmaceuticals
The type of partnership where partners share responsibility in business running and in any liability.
General Partnership
This many people can own an LLC
No specific limit
What type of liability does a sole proprietorship have?
Unlimited
Riddle me this: I have many buyers and sellers and all my products are the same an example of me is a fish market what am I?
pure competiotion
Which market structure is more successful?
Monopoly or oligopoly
what is monopoly
At least one general partner runs the business and bears unlimited personal liability; other partners provide financial capital but have limited liability.
Limited Partnership
Decision makers for the businesses
Board members