Business Organizations
This business organization is owned by one individual with 100% liability. They make all the decisions for the business, produce the good/service, and pay individual income taxes.
What is a Sole Proprietorship?
True or False: Competition keeps prices low.
What is true?
Apple buying Samsung would be an example of ____________.
What is a Horizontal Merger?
Every person in the group/manufacturing line does one small, repeatable task.
What is Division of Labor?
The money that stockholders receive from a company.
What is a Dividend?
A business organization that has no personal liability to the owners.
What is a corporation?
One company has sole control over the market.
What is a Monopoly?
A joining of two or more firms involved in different stages of production.
What is a Vertical Merger?
Acquired through education/training.
What is human capital?
Nonprofit organizations benefit ________.
A corporation that owns the means of production (ex. factories) in one or more countries.
What is a Multinational Corporation?
A market structure in which companies face extensive competition and have no control over their prices.
What is Perfect Competition?
Netflix buying McDonald's is an example of a __________ merger.
What is a Conglomerate?
Tools/Machinery that a company buys.
What is Capital Goods/Physical Capital?
This is used by unions to secure better pay and benefits for their workers.
A market structure in which many producers provide differentiated goods and have some control over price.
What is Monopolistic Competition?
If Chipotle buys an avocado farm.
What are Vertical Mergers?
An organized group of workers formed to protect and further their rights and interests.
What is a Labor Union?
The person responsible for creating businesses.
What is entrepreneurship?
A monopoly that exists on purpose due to high start-up costs. The cost of their good/services is regulated by the government.
A market structure that has few competitors but similar products.
What is Oligopoly?
If Nike bought Cinnabon.
What is a Conglomerate Mergers?
Regulating monopolies promote ___________.
What is Competition?