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Economics Study Guide- Credit 3
Terms in this set (26)
Ease of start-up, relatively few reguletions, sole receiver of profit, full control, and easy to discontinue
What are the advantages of a sole proprietorship?
What percentage of business are sole proprietorship?
Has more personal stability and access to more money
Why is it easier for a partnership to borrow money and to hold good employees than it is for a sole proprietorship to do so?
Share of earnings given as payment
What are royalties?
A payment other than wages of salaries
What is a fringe benefit?
Lack of performance
What are the disadvantaged of a sole proprietorship ?
What are the money and other valuables that belong to a corporation or partnership called?
What are organizations that are in the business of benefiting society and operate like a business called?
When a doctor shares equal responsibility and liability with her colleagues in their medical practice, what is her practice called?
Your uncle owns a convenience store that had branches nationwide. What is his store an example of?
Supply of doctors is relatively low and the demand is relatively high
Why is the equilibrium wage for doctors high?
Dangerous working conditions and long hours of factory jobs in the 1800s
Labor unions arose largely in response to what?
To make sure costumers do not lose money if a bank fails
What is the purpose of the Federal Deposit Insurance Corporation (FDIC)?
What is the interest rate called that the bond issuer pays to the bondholder?
To finance the building of a new police station, a local government is most likely to issue what type of bond?
Your money is invested in a variety of stocks and bonds
What happens to your money when you invest in s mutual fund?
Contact a brokerage firm, who will put him in touch with a stockbroker
How would you go about investing money in the stock market?
Many investors are selling their stocks in anticipation of lower profit
What does the term mean "bear market"?
Money and other valuables belonging to and individual or business
An establishment formed to cary on commercial enterprise
Nonprofit organization that promoted the interests of a particular industry
Partnership in which only one partner is required to be a general partner
A business owned and managed by a single individual
A formal contract to repay borrowed money with interest at fixed intervals
A business organization owned and operated by a group of individuals for their mutual benefit
A legal entity owned by individual stockholders
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