Monopoly MM
single seller
monopolistic market
Joe's Hotdog Stand goes bankrupt and Joe is held personally responsible for debt.
Sole Proprietorship
Jeff Bezos, Owner of Amazon, has died. But his long time best friend who was the same vision as him takes over and nothing changes
Unlimited lifespan
blue collar workers earn money by the hour
wage
A company's ability to influence the price of a good or service.
Market power
Decisions in Costco are made by a board or panel.
LLC
Liam just started a construction business all by himself
Sole proprietorship
Administrative or corporate worker
white collar
A single firm can can supply an entire market at a lower cost
Natural monopoly
Nelson & Murdock's Law Firm is owned by two people, held liable for debt.
A Partnership
MJ slips while working at McDonalds the responsibility of payment falls on the company
Limited liability
white collar works usually earn a set amount of money
salary
High start up costs, control over essential resources, strong brand loyalty, and government regulations
Barriers to entry
If Oreo went into debt, no individual is held liable.
LLC
Trae's business has not been receiving 100% of its earnings and Trae notices that some of the money is going to the government
Taxation
Manual labor workers
blue collar
Grants a singular firm the exclusive right to sell its goods within a specific market area.
Franchise
Bucc-ee's pays taxes on both their earnings and dividends paid to stock holders
Double Taxation
Two of Terry's employees told him they were quitting because he did not give them breaks during there shifts violating...
Labor Laws
a contingent employee
part time labor