Econ Chapter 3

This type of business is owned by one person.

• Corporation

• Sole Proprietorship

• Partnership

• Franchise

This type of business is owned by two or more people.

• Franchise

• Corporation

• Partnership

• Sole Proprietorship

This type of business is owned by many people called stockholders.

• Franchise

• Partnership

• Corporation

• Sole Proprietorship

Law firms and doctor's offices are examples of....

• Partnerships

• Sole Proprietorships

• Franchises

• Corporations

Nike, Google and Apple are examples of.....

• Corporations

• Partnerships

• Franchises

• Sole Proprietorships

Advantages of this business type are that the owner is their own boss and gets to keep all the profits.

• Sole Proprietorship

• Partnership

• Corporation

• Franchise

Advantages of this business include: easier to get money from the bank to start, share skills and share risks.

• Corporation

• Partnership

• Sole Proprietorship

• Franchise

Advantages of this type of business include: selling stock to raise money, limited liability.

• Sole Proprietorship

• Partnership

• Corporation

• Franchise

Disadvantages of this business include: company is taxed on profits, regulated by the government, and hard to start.

• Partnership

• Franchise

• Sole Proprietorship

• Corporation

Where multiple firms join that do different steps of manufacturing

• Horizontal merger

• proprietorship

• corporation

• Vertical merger