Ch.8 Forms of Businesses Quiz Study Guide

Economics

 Sole Proprietorship

A business that is owned by a single person. An example of a sole proprietorship is Tommy opening his own coffee shop. 

Partnership

Is a business that is co owned with another person.  An example of a partnership is my mom's trucking business who is co owned with my grandma.

Corporation

A large scale business that is separate from their owners.  

An example of a corporation is Apple Inc.

Mergers

When two companies merge together. 

An example of a merger is AOL and Time Warner. 

Conglomerates

A large conglomerate is a cooperation that is composed of distinct. 

An example of a conglomerate is Berkshire Hathaway 

Multi-National Corporation

Is a corporation with branches in several countries. 

An example of a Multinational corporation is Apple 

non profits

Is an institution that acts like a business organization 

An example of a non profits American Red Cross.

Franchise 

A business that is made up of semi-independent businesses. 

An example of a franchise is McDonalds.

Cooperatives

A type of business operated for the share benefits. 

 An example of a cooperative is REI.