Econ Terms ch 3

-combination of 2 or more businesses to form a single firm-

-Business owned and run by a single person who has the rights to all profits and unlimited liability to all debts of the firm-

-Formal consent to repay borrowed money with interest-

-economic organization that operates like a business but does not seek financial gain-

-form of business organization recognized by law as a seperate legal entity-

-check that transfers a portion of the company profits to stockholders, usually quarterly-

-unincorporated business owned and operated by two or more people who share the profits and responsibilities for debts-

-Certificate of ownership in a corporation-

-Firm with 4 or more businesses making unrelated products, with no single business responsible for a majority of its sales-

-nonprofit association performing some kind of economic activity for the benifit of its members-

-Requirement taht an owner is personally and fully responsible for all loses and debts of the business-

-amount borrowed when getting a loan or issuing a bond-

-Form of partnership where one or more partners are not active in the daily running of the business and have limited responsibilty for debts-

-Company providing an essential service such as water or electricity to consumers-