Types of businesses & market structures - modidied

owner of a business

• stock

• liability

• proprietor

• profit

• debt

financial gain; the difference between the amount earned and the amount spent in buying, operating, or producing something

• stock

• liability

• proprietor

• profit

• debt

an obligation to pay or do something

• stock

• liability

• proprietor

• profit

• debt

a share of ownership in a corporation

• stock

• liability

• proprietor

• profit

• debt

legal responsibility for a business

• stock

• liability

• proprietor

• profit

• debt

human effort (work) directed toward producing goods and services

• stock

• liability

• proprietor

• competition

• labor

the struggle among producers to get the dollars of consumers

• stock

• liability

• proprietor

• competition

• labor

a business owned by one person

• sole proprietorship

• partnership

• corporation

• labor union

• non-profit

a business owned by two or more people

• sole proprietorship

• partnership

• corporation

• labor union

• non-profit

a business owned by stockholders who share in its profits but are not personally responsible for its debts

• sole proprietorship

• partnership

• corporation

• labor union

• non-profit