Unit Three Lesson Nine Economics

Front

An arrangement in which a parent company, or franchiser, distributes its products or services

Back

Business Franchise

Front

A business organization that is jointly owned and operated by a group of individuals for their mutual benefit

Back

Cooperative

Front

The legal responsibility to repay debts and to pay for damages resulting from a lawsuit

Back

Liability

Front

A business owned by shareholders who have limited liability for the firm’s debt

Back

Corporation

Front

A corporation that does business in more than one country

Back

Multinational corporation

Front

An organization that functions much like a business but does not operate to make a profit

Back

Nonprofit organization

Front

A business owned by two or more co-owners who share profits from the business and are legally responsible for debts

Back

Partnership

Front

A business owned and managed by one person

Back

Sole proprietorship

Front

New business owners are often challenged by: Financial insecurity, Working long hours, often with little or no pay, Finding the right employees.

Back

All of the above

Front

In 2013, what was the SECOND most common business organization type? Options: sole proprietorships, limited liability partnerships, Partnerships

Back

Corporations