Chapter 5 Review

2. A(n)___ worker is one who has no explicit or implicit contract for long-term employment.
3. ___ is a business owned and controlled by two or more people who have entered into an agreement..
6. A business that takes resources from nature for direct consumption or for use in developing other products is a specific type of producer called a(n) ___.
7. Guidelines used in making consistent decisions are ___.
8. Unity of ___ means that there is a clear reporting relationship for all staff of a business.
9. A ___ chart is a diagram that shows the structure of an organization, classification or work and jobs, and the relationships among those classifications.
13. ___ are businesses involved in selling the goods and services of producers to consumers and other businesses.

1. Sometimes a group of people forms a(n)___ to provide goods and services that they all need; it is owned by members, serves their needs, and is managed in their interest.
3. A(n) ___ is a business owned and run by just one person.
4. A business formed as a(n)___ is a separate legal entity formed by documents filed with the state.
5. A unique business organized by two or more other businesses to operate for a limited time and for a specific project is called a ____.
10. ___ is a precise statement of results a business expects to achieve.
11. A(n) ____ is a written contract granting permission to operate a business to sell products and services in a set way.
12. A(n __ statement is a short, specific written statement of the reason a business exists and what it wants to achieve.
14. ___ business carries out activities that are consumed by its customers.