CP Economics 91-100

Front

Partners share both in the responsibility of running the business and in any liability from its operation. What type of business structure is this?

Back

General Partnership

Front

At least one general partner runs the business and bears unlimited personal liability; other partners provide financial capital but have limited liability. What type of partnership is this?

Back

Limited Partnership

Front

A legal entity with an existence that is distinct from the people who organize, own, and run it.

Back

Corporation

Front

Ownership limited to just a few people, sometimes only family members; shares are not publicly traded.

Back

Private Corporation

Front

Owned by many shareholders; shares can be bought or sold on stock exchanges.

Back

Publicly Traded Corporation

Front

Business with limited liability for some owners, single taxation of business income, and no ownership restrictions.

Back

Limited Liability Company

Front

A company that is easily converted from an existing partnership.

Back

Limited Liability Partnership

Front

An organization consisting of people who pool their resources to buy and sell more efficiently than they could independently.

Back

Cooperative

Front

Groups that do not pursue profit as a goal; they engage in charitable, educational, humanitarian, cultural, professional, or other activities, often with a social purpose.

Back

Not-For-Profit Organizations

Front

The demand for a resource that arises from the demand for the product that resource produces.

Back

Derived Demand