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Chaptetr 5
Business in the U.S. Economy
Question | Answer |
---|---|
What is a contingent worker? | is one who has no explict or implict contract for long-term employment. |
What is a service business? | carries out activities that are consumed by its customers. |
What is a Intermediaries? | are business involved in selling the goods and services of producers to consumers and other business. |
What is proprietorship? | is a business owned and run by just one person. |
What is partnership? | is a business owned and controlled by two or more people who have entered into a written agreement. |
What is corporation? | is a separate legal entity formed by documents filled with your state. |
What is partnership agreement? | is a written agreement among all owners. |
What is articles of incorporation? | is written legal document that defines ownership and operating procedures and conditions for the business |
What is a franchise? | is a written contract granting permission to operate a business to sell products and services in a set way. |
What is a mission statement? | is a short, specific, written statement of the reason a business exists and what it wants to achieve. |