Types of Business
A business owned by two or more owners
Partnership
Turning raw or processed goods into finished products
Manufacturing
A contractual agreement to sell a companies products or services in a designated geographic area is called
Franchise
A business that gathers raw products in their natural state is called?
Producer
A person that likes to take risk is called?
Risk Taker
Nonprofit organization
Also known as the middleman
Intermediary
Having full legal and financial responsibilities for a business is called?
Unlimited liability
A business that changes raw goods into more finished products is called?
A business owned by one person is called
Sole Proprietorship
Buys goods in large amounts and resells them to other businesses
Wholesaler
A business that is only responsible for the owners of the corporations investment is called?
Limited liability
Share of ownership in a corporation that can be bought is called?
Stocks
A business that is treated by law as a separate entity is called?
Corporation
Business that buys goods from a wholesaler or manufacturers and sells them to the public
Retailer
An independently owned business serving a limited geographic area is called?
Small Business
A person that recognizes an opportunity and organizes, manages, and assumes the risks of starting a business to increase the value is called?
Entreprenuer
A group of small businesses
Cooperative
A business that buys and sells goods
Intermediary