corporation
business organization recognized by law as a separate legal entity having all the rights of an individual
limited life
a firm ceases to exist when the owner dies, quits, or sells the business
depreciation
a non-cash charge a firm takes for the general wear and tear on its capital goods
sole proprietorship
a business owned and run by one person
limited partnership
business organization in which at least one partner is not active in the daily running of the business
merger
a combination of two or more business to form a single firm
Net income
determined by subtracting expenses, including taxes, from revenue
collective bargaining
negotiations between representatives of labor and management
multinational
a corporation that has operations in a number of different countries
Vertical merger
business combination of firms involved in different steps of manufacturing or marketing
Nonprofit organization
economic institution that works in a businesslike manner but does not seek financial gain
Cooperative
voluntary association of people formed to carry on some kind of economic activity that will benefit its members
Labor union
organization of workers formed to represent its members interest in various employment matters
A horizontal merger is the joining of firms that make the same product. A vertical merger is the joining of firms involved in different stages of manufacturing or marketing
What is the difference between a horizonal and vertical merger?
Represent workers’ interest and negotiate with management through collective bargaining.
What is the purpose of a labor union?
They give job opportunities and provide technology.
What advantages might a multinational corporation bring to a host nation?
A horizontal merger is the joining of firms that make the same product. A vertical merger is the joining of firms involved in different stages of manufacturing or marketing.
Describe the different ways a business can merge.
A charter
What is the name of a government document that grants permission to create a corporation.
Sole proprietorships
What is the most common form of business organization in the United States?
Coca-cola
After the work "OK", what is the second most recognizable word in the world?
Apple
In the video they said that _______ was compared to a small country.
Amazon, Microsoft, Google
Name two top ten technology companies according to the video.
Nestle
According to the video what is the largest food and beverage company in the world.