Business Terminology

1. The ownership structure where generally 2-20 people own shares in the business. Liability is unlimited.
2. When shareholders do not bear the responsibility of a company's debts and do not stand to lose personal belongings
3. They ownership structure where the business is owned by one person; the person is the business
5. The phenomenon when a business increases output, and unit costs increase
8. The tool that looks at different growth strategies, from the perspective of markets and products
9. A type of business where a company pays fees to another company to use the brand, and pays monthly royalty fees as well

1. The ownership structure of a business where the business is treated like a separate legal entity, and shares can be traded on the stock market
4. The phenomenon when a business increases output, and unit costs decrease
6. People or groups who have an interest in the business or are affected by the actions of the business
7. When a business expands using its own resources, and with no cooperation from outside companies, that is called ___________.