Unit 5 Economics
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6 Terms
1
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sole proprietorship
a business owned and managed by a single individual
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business organization
the ownership structure of a company or firm
3
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business license
an authorization from the local government to operate a business
4
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zoning laws
laws that are designated in certain areas, or zones, for residential use and business use
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liability
the legal obligation to pay debts
6
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fringe benefits
payments to employees other than wages or salaries, such as paid vacation, retirement pay, and health insurance
Note 
Flashcards (20)