Chapter 5
Name 3 of the characteristics of being an entrepreneur
Self-starter, energetic, independent, take-charge, creative, personable, experienced, well informed.
business owned by a group of people and authorized by the state in which it is located to act as though it were a single person, separate from its owners
What is a corporation?
protects names and logos
Trademark
Outlawed business agreements that would allow monopolies, also outlawed price fixing
Sherman Act
What Pokemon is quoted in the first floor hallway?
Mewtwo
A business owned 2 or more people
What is a partnership
profits distributed to stockholders on a per-share basis
What are dividends?
Protects literary works
What are copyrights
outlaws business from acquiring other businesses if the purpose is to create a monopoly or discourage competition
Clayton Act
Who is your Dean of Students?
Ms. Skinner
a written document that describes the nature of the business, its goals and objectives, and how they will be achieved
What is a business plan?
a written authorization for someone to vote on behalf of the person.
What is a proxy?
Protects inventions like engines and computers
define flat tax, progressive tax, and regressive tax
flat tax- rate remains the same
progressive tax- rate increases as ability to pay increases
regressive tax- rate decreases as ability to pay increases
This upcoming Disney sequel has a returning character named Pua
Moana 2
Nature of the Business, Goals and Objectives, Marketing Plan, Financial Plan, and Organizational Plan
a formal summary of the chief features of the business and its stock offering
What is a prospectus?
Which act outlawed price discrimination
Robinson- Patman Act
difference between income tax and sales tax
income tax is tax on your income, sales tax is tax on goods you purchase
The first brothers to face off against each other in a Super Bowl
Travis and Jason Kelce
Owner is boss. Owner receives all profits. Owner personally knows employees and customers. Owner can act quickly in decision making. Owner is free from red tape. Owner usually pays less income tax than a corporation.
What are the advantages of being a sole proprietor?
Available sources of capital from sale of shares. Limited liability of stockholders. Permanency of existence, more permanent than a proprietorship or partnership. Ease in transferring ownership, shares can be sold or transferred
What are the advantages of being a corporation?
Outlawed false advertising
Wheeler- Lea Act
whats the difference between real property and personal property taxes
real property is tax on real estate (land, buildings) and personal property tax is tax based on possessions that are movable (cars, machinery)
What does SWOT stand for?
Strength, Weakness, Opportunity, Threats