Vocabulary
What is the vocab word for something you would like to have or something that you enjoy?
Want
What legal entity is owned by 2 or more people who share responsibilities, profits, and liabilities?
Partnership
Who purchased the product for consumption?
Consumer
What is an individual or business that grows crops or raises livestock?
Producer
What is a unit of stocks traded by a corporation that shows ownership?
Shares
What legal entity is owned by an individual and the owner is liable for all debts and obligations?
Sole Proprietorship
What innovative new processes and products have been developed?
Research and Development
What is a person who owns stock in a company?
Shareholder
What is property that has valued owned by a company?
Assets
What legal entity is where all owners have equal say in decisions and share all profits based on their contributions?
Cooperative
What raw products were raised by a farm or production?
Production
What type of corporation has less than 100 shareholders?
S Corporation
What is the part of the value chain that creates innovative new processes, products, and solutions?
Research & Development
In what legal entity do shareholders exchange money, property, or both, for the business's capital stock?
Corporation
What suppliers stock the products?
End Product
What type of legal entity is managed by members or appointed managers?
Limited Liability Company or LLC
What is the term for the step in the value chain where all planning for the creation of content occurs?
Pre-production
What legal entity offers limited liability protection and is separate from the owners?
Corporation
How sellers get consumers to purchase products/services; decided what to purchase?
Sales, Service, & Support
What is the term for legal and financial control over a company?
Ownership