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unit 3
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Economics
12th
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20 Terms
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1
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corporation
a formal organization of producers that agree to coordinate prices and production
2
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McDonalds, apple, amazon
name 3 examples of a corporation
3
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to expand market share
name a reason to create a merger
4
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reduces competition
name an advantage of a merger
5
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gaps in communication
name a disadvantage of a merger
6
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exxonmobil, kraft heinz company
name 2 examples of a merger
7
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sole proprietorship
a company owned and managed by a single individual
8
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easy startup, full control
name two advantages of a sole proprietorship
9
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liability, limited access to resources
name two disadvantages of a sole proprietorship
10
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70
what percentage of businesses are sole proprietorship
11
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multinational
what type of business structure has headquarters in one country but sells to multiple companies
12
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mcdonalds, apple, amazon
name 3 examples of a multinational company
hint: m___, a___, a___
13
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spreads technology and production methods
name an advantage of a multinational company
14
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low wages and poor working conditions
name a disadvantage of a multinational company
15
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franchise
what is a semi-independent business that pays fees to a prent company
16
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McDonalds
name 1 example of a franchise
hint: m___
17
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standardized quality
name an advantage of a franchise
18
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limited product line
name a disadvantage of a franchise
19
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limited external regulation
name an advantage of a partnership
20
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liability
name a disadvantage of a partnership