What type of business? - Disagreements are the main disadvantage of this type of business organization

What type of business? - The economic risk is shared by a large number of investors

What type of business? - The owner receives all profits individually

What type of business? - Must pay dividends to its shareholders

What type of business? - Pieces of ownership are called stock

What type of business? - Provides a service to the public at a minimal or no cost (ex: American Red Cross)

What type of business? - Allows different people to combine their skills or resources to start and run the business

What type of business? - The individual owner has unlimited liability

What type of business? - Controlled by a Board of Directors with government regulations to protect the shareholders/investors

Which market structure - has INFINITE firms with NO market power

Which market structure - Has FEW firms with HIGH market power

Which market structure - Has ONE firm with COMPLETE market power

Which market structure - Can be caused by government issue of patents, trademarks, or copyrights

Which market structure - Has MANY firms with LOW market power

Which market structure - Has NO BARRIERS TO ENTRY to exist

Which market structure - Has HIGH barriers to entry to exist

Which market structure - Can be owned by government to control prices or resources

Which market structure - Some examples include farmers markets and online auction sites (Ebay)

Which market structure - Some examples include airlines, cell phone services, and cable/internet companies

Which market structure - Some examples include fast-food restaurants, clothing stores, and sporting goods stores

Which market structure - Some examples include electric and water companies