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  1. 1. concept that everyone can compete in a market place
  2. 7. :one person assets can be seized to pay business debt
  3. 8. company taxed on its profit and shareholders are taxed again
  4. 10. establishment formed to carry on commercial enterprise
  5. 13. corporation cannot lose more than what they paid for their stock
  6. 14. owned by two or more person
  7. 15. only one partner is required to be a general partner
  8. 17. legal entity owned by stockholders
  9. 18. combine land, labor, and capital to create a market
  10. 19. certificate of ownership in a corporation
  11. 20. combination of two or more firms competing in the same market
  12. 21. Money and other valuable belonging to an individual
  1. 2. don't operate for two purposes of generating profit
  2. 3. legal bound obligations to pay debts
  3. 4. amount of goods available
  4. 5. death of an owner ends the business and its must be reestablished in new owner name
  5. 6. repay borrowed money or intervals
  6. 9. two or more firms involved in different stages of producing same good or service
  7. 11. owned/managed by a single individual
  8. 12. portion of corporate profits paid out to stockholders
  9. 16. right to sell a good or service within a market