Economics Chapter 3 – Flashcards
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Corporation
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Is a form of business organization recognized by law as a separate legal entity having all the rights of an individual.
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Sole Proprietorship
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A business owned and run by one person,
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Principal
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The amount borrowed to the corporation
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Stockholder
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People who buy shares
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Dividend
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A check representing a portion of the corporate earnings to each stockholder.
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Unlimited Life
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the owner is personally and fully responsible for all losses and debts of the business .
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Proxy
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Merger
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A combination of two or more businesses to form a single firm.
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Producer Co-op
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Multinational
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A corporation that has manufacturing or service operations in a number of different countries
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Partnership
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A business jointly owned by two or more persons
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Limited Partnership
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At least one partner is not active in the daily running of the business.
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Common Stock
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Preferred Stock
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Interest
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the price paid for the use of another's money
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Principal
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The amount borrowed
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Advantages Of a Merger
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Conglomerates
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is a firm that has at least four businesses,each making unrelated products,none of which is responsible for a majority of its sales
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Multinational
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is a corporation that has manufacturing or service operations in a number of different countries
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Public Utilities
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investors or municipal owed companies that offer important products to public,such as water or electric
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Non-Profit Organization
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operates in a business like way to promote the collective interest of its members rather than to seek financial gain for its owners.
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Fringe Benefits
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Securities and exchange Commission
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Labor Unions
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Collective Bargaining
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When it negotiates with management over issues such a pay,working,hours health care coverage.
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List and explain the three forms of business in America:
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List and Explain at least two reasons that business merge. And define the differences between Vertical and Horizontal Mergers:
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Define and compare mergers, conglomerates,and multinationals
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Explain the direct and indirect roles of the government:
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The role of the government in Economics (direct and indirect)
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