Sole proprietorships
What is sole proprietorships?
Businesses owned & managed by a single individual
Person earns all profit and manages all debt
What are the three types of mergers?
What is the minimum amount of people required to form a partnership?
Two
What is a Multinational Corporation?
They produce and sell goods/services around the world
What is an example of sole proprietorships?
Barber shop, salon, conscience store
What is conglomerates?
A merger that consists of at least theee companies that produce different goods and services
One benefit of a partnership is more money, equipment, land, etc. These are examples of what?
Assets
What are examples of MNCs?
ADIDAS, APPLE, DISNEY
What is an advantage and disadvantage of sole proprietorships?
Advantages: ease start up, regulation, one person in charge
Disadvantages: unlimited personal liability, limited access to resources, lack of permanence
What is beneficial of a Horizontal Merger?
corporations can set market price for this phase of productions
What is the most common type of partnership?
General Partnership
What is an advantage of MNCs?
Provide jobs and products around the world
What are the requirements to start a sole proprietorship?
Authorization, site permit, and name
What are the differences between Horizonal and Vertical mergers?
Horizontal Merger is two or more firms competing in the same market for the same good or service
Vertical Merger is two or more firms involved in DIFFERENT stages of producing the same good or service
What are two examples of a partnership?
Law offices, Mom and Pop businesses
What is a disadvantage of MNCs?
The job offerings can pay low wages and/or have poor working conditions