What's my Type? Businesses. KD
Organized for profit and provides goods and services.
What is Business?
Billy knew he was walking into a store and saw that all the products were unique.
What is a Monopoly?
Quantity of output produced by a unit of labor
What is Productivity of Labor?
Jim and Gary are in a partnership that allows Jim to have unlimited liability while it requires Gary to not manage the business.
What is Limited Partnership?
This type of corporation issues stock to only a few people who rarely sell their stock.
What is Private Corporations?
Board of owners, limited liability, unlimited lifespan, and a board who makes decisions.
What is a Company LLC?
has many buyers and sellers and no entry barriers.
What is Pure/Perfect Market Competition?
This labor group sponsored a parade where 10k workers paraded through the streets of NYC in 1882.
What is the Knights of Labor?
In a LIMITED partnership, do the partners have more or less liability than the general partners?
What is Less Liability?
Offers legal authorization to organize a business as a corporation.
What is a Charter?
Death is at Bob's door. His restaurant is family owned. The fate of the restaurant will fall on his kids.
What is Limited Lifespan?
Fast food, local restaurants, and clothing.
What is a Monopolistic Competition?
Wage rate that produces neither excess supply of workers or excess demand for workers.
What is Equilibrium Wage?
Unlimited personal liability, limited life of the business, partners may disagree, profits must be shared.
What are disadvantages of Partnership?
Corporation that allows profits and losses to pass through to shareholders to avoid double taxation while still providing limited liability protection.
What is S Corporation?
Jim and Eric are owners of a corporation.
What are Shareholders?
Shannon works at a business and has to pay close attention to price control as it depends on competitors.
What is Oligopoly?
Business demand that ultimately comes from (derives from) the demand for consumer goods.
What is Derived Demand?
Ben wants to own an ice cream shop and is burdened by his high taxes. He asks Alex if he would like to be his business partner as it would help his taxes.
What is Lower Taxes?
Corporation is taxed separately from its owners and can have an unlimited number of shareholders, making it a common choice for large businesses.
What is C Corporation?
Small Coffee Shops, YouTube Channels, and Lemonade all have this TAXATION TYPE.
What is Single Taxation?
Giggles' business is on the rise. Because of this, she wants to monopolize her business. Something is stopping her from doing so.
What is the Sherman Anti-Trust Act of 1980?
This act allows states to pass measures that ban mandatory union membership.
What is the Taft-Hartley Act?
What Rob gets in return for joining Max in his business
What is Share in Profit?
This legal protection ensures that a shareholders personal assets are not at risk for the debts and liabilities of the corporation beyond their investment in the company.
What is Limited Liability?