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Key Terms
types of business ownership
types of businesses
Misc
alternative ways of doing business
100
term for losing only what you have invested
what is limited liability
100
contains only one owner
What is a sole proprietor
100
gathers raw materials from their natural states
what is a producer
100
moves goods from one business to another business
what is an intermediary
100
McDonalds is an example of what type of way to business
what is a franchise
200
shares of ownership in your corporation
what is stock
200
treated like is own separate legal entity
What is a corporation
200
could be a piece of corn, gold, or copper
what is a raw material
200
these companies just usually fix things or provide a need they do not make anything
what is a service business
200
like a corporation this type of business is also treated as a separate entity
What is a cooperative
300
also known as a distributorship
What is a wholesaler
300
You have to pay more taxes
What is a corporation
300
make finished goods out of processed goods
What is a manufacturer
300
This word means owner
What is proprietorship
300
this type of business does not pay taxes
what is a non profit organization
400
Document required to start a corporation
What is a charter
400
You have to share your profits evenly among each member
What is a partnership
400
oil refinery, paper mills,
What are industries that process raw materials
400
the number of people employed by a service business
What is 3/4
400
Can be operated as either a partnership, sole proprietorship or a corporation
What is a franchise
500
purchases goods from a wholesaler and resells them to the consumer
what is a retailer
500
this word means one
what is sole
500
mining, forestry, agriculture
What are industries that are producers
500
most risky type of ownership
what is sole proprietorship
500
generally funded by government grants or private donations
What is a non profit organization