PBMF Chapters 5-7

Someone who starts, manages, and owns a business

• Entreprenenuer
• Sole Proprieter
• Partnership
• Shareholder

A written document that describes the nature of the business, the company's goals and objectives, and how they will be achieved. 

• Corporation
• Shareholder
• Business Plan
• Partnership

A business owned and managed by one person

• Corporation
• Sole Proprieter
• Partnership
• LLC

A business owned by two or more people. 

• Parternship
• Entreprenenuer
• Sole Proprieter
• LLC

A business owned by a group of people and authorized by the state in which it is located to act as though it were a single person.

• Shareholder
• Corporation
• LLC
• Non Profit Corporation

Owners of a corporation.

• LLC
• Shareholders
• Sole Proprieters
• Partnerships

A special type of corporation that is taxed as if it were a sole proprietorship or partnership.

• LLC
• Shareholders
• Sole Proprieters
• Corporation

An organization that does not pay taxes and does not exist to make a profit.

• Shareholders
• Non Profit Corporation
• LLC
• Corporation

Exists when competition is lacking for a product or service, or when producers are in a position to control the supply and price of goods and services

• Monopoly
• Price Discrimination
• Bankruptcy
• Patents

Setting different prices for different customers.

• Patents
• Price Discrimination
• False Advertising
• Monopoly