Economics U3

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co-operative

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75 Terms

1

co-operative

A type of firm owned and operated by a group of individuals for their mutual benefit, often emphasizing democratic decision-making and shared profits. e.g workers

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2

sole traders/ prorietor

a business owned and controled by one person

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3

joint venture

A agreement where two or more parties agree to pool their resources for a specific project or business activity, sharing both profits and risks.

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4

limited company

a type of business organztion owned by its shareholder

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5

partnership

a organiztion which two or more people own a business

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6

private sector

organizationss that are owned by individuals or companies

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7

state owned enterprises SOEs

businesses owned and operated by the government

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8

unlimited liability

a condition where owners are personally responsible for all debts of the business.

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9

merger/ takeover

the process of combining two companies into one, either by acquisition or consolidation.

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10

organic growth

the process of expanding a business through internal resources, such as increasing sales or production capacity.

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11

vertical intergration

a joint venture between different firmst

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12

horizontal intergration

the process of acquiring or merging with competitors at the same level of the supply chain to increase market share.

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13

Sunk cost

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