Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
15 Cards in this Set
- Front
- Back
|
Partnership |
A business owned by tow or more persons who share the risks and rewards |
|
|
Stock |
Shares of ownership in a corporation |
|
|
Intermediary |
Business that acts as a go-between in moving goods from producers to consumers, such as wholesalers, retailers, and distributors |
|
|
Sole proprietorship |
A business owed by only one person |
|
|
Corporation |
A business treated by law as separate from its owners |
|
|
Processors |
Businesses that change raw goods into more finished products |
|
|
Manufacturers |
Businesses that make finished products out of raw processed goods |
|
|
Unlimited liability |
Full legal and financial responsibility for a business |
|
|
Limited liability |
Financial responsibility of business owners only for what they invested in a business |
|
|
Franchise |
A contractual agreement to use the name and sell the goods or services of an existing company |
|
|
Nonprofit organization |
A business whose main purpose is to provide a service rather than to make a profit |
|
|
Cooperative |
An organization of businesses owned and operated by the members, who pool their resources and share the benefits |
|
|
Producer |
A business that gathers raw products in their natural state |
|
|
Wholesaler |
A type of business that buys goods in large amounts and resells them to other businesses in smaller lots |
|
|
Retailer |
A business that sells goods or services directly to the public |
