Econ Flashcard

Front

Aria, a risk-taker, is needed for factors of production and starting a business

Back

entrepeneurship

Front

a business owned and managed by two or more individuals as co-owners

Back

Partnership

Front

Benjamin recently bought shares in a tech company. What is Benjamin's role in the company?

Back

shareholder/stockeholder

Front

corporation

Back

a business owned by shareholders and managed by directors and executives

Front

general partners

Back

a business partner who has decision making authority

Front

What are the disadvantages of a partnership?

• Unlimited liability 
• Possible disagreement among partners (you are responsible for actions of your partner)
• Shared profits
• Limited life

Back

Disadvantages of the Partnership

Front

Which of the following is a disadvantage of a corporation? Limited life, Shared profits, Unlimited liability

Back

Double taxation

Front

What is a key advantage of forming a corporation?

Back

Ability to raise capital

Front

is a transaction that results in the transfer of ownership and control of a corporation.

Back

merger

Front

Horizontal, Vertical, and Conglomerate are...

Back

3 types of mergers