25 terms

2. Organization profit seeking enterprise that provides goods or services to consumers to satisfy wants and needs
5. Institution persons or firms that use the factors of production
10. Liability to be personally responsible for all debts and losses of the business
13. to form a corporation with government permission
14. firm with 4 businesses all unrelated
16. / Shares represents ownership in a corporation
17. Partnership At least one partner is not active in the business
18. Partnership all partners are 100% responsible for the business
19. government document that gives permission to create a corporation
20. Life a business dies when the owner dies or quits working
21. corporate profits shared with stockholders
22. 2 or more businesses combining

1. Benefits health care, dental insurance, paid vacation, sick leave, retirement
3. / Shareholder owners of a corporation
4. of Production Land Labor Capital Entrepreneurship
6. unlimited wants/needs; limited resources
7. a stock of finished goods for sale
8. of Partnership the contract or Partnership Agreement that explains the relationship between the partners
9. firm sin same business combine
11. Proprietorship Business owned/run by one person
12. firm sin different portions of manufacturing process combine
15. firm with operations in many countries
19. a separate legal entity with rights of an individual
20. Liability investor's responsibility for debts of the business are limited