Word Bank
Often is a quality of an entreprenuer
Independence
Having money to start a business is called having
Capital
An investor who backs an entrepreneur in return for part of the profits
Venture capitalist
List three types of business
Sole Proprietorship, partnership, and corporations
Only one in seven business that disappear actually
Fails
A disadvantage of sole proprietorship is
Limited capital
The knowledge or skill to do something
Technical know how
what are three elements of the circular flow model
Consumers, businesses, and government
One person owns
Sole proprietorship
Business owners in a partnership are responsible to pay the company's
Debts
A business that two or more people own
Partnership
what is limited liability
Investors can lose only as much money as they have invested
One disadvantage of owning your own business is
Unlimited Liability
Stockholders easily can enter or leave
A corporation
An official document issued by state governments that gives the right to create a corporation
Charter
what might happen to the circular flow model if the government were not involved
The Circular model would break down
When investors buy stock in a business they receive
Dividends
A possible explanation of things is called
Theory
A unit of stock in a company
Share
what four attributes make a successful Entrepreneurship
A marketable idea, potential customers, financial resources, technical know how