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11 terms


Absolute advantage
________Occurs when a country has a monopoly on producing a product or is able to produce it at a cost well below that of all other countries.
Be their own boss
One of the major attractions of a sole proprietorship is:
Sole proprietor's heirs have the option of taking over the business
When a sole proprietor dies:
A__ occurs when one company buys the property and obligations of another company
Leveraged buyout
An attempt by employees, managment, or a group of investors to purchase an organization primarily through borrowing is called ?
A____ is a company that has a proven business model and is willing to sell the rights to use the business model to others so that they can sell the same product or service within a given territory
The Executive Summary
Banks and potential investors are likely to read____first.
Small business employees
____ employees often find more job satisfaction than their counterparts in big business
A____ refers to ppl with unsatisfied wants and needs who are willing and able to buy a product or service
Can encourage employees to deceive customers
Creating competition between employees within the corporation leads to what?
The body of law created by court decisions rendered by judges is called _____ law