Ch 8 sec 3/4 Word Scramble
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| Question | Answer |
| What is one advantage of an incorporation? | limited liability to owner |
| What is a corporation? | a legal entity owned by individual stockholders |
| What is the difference between a horizontal merger and vertical merger? | One is a combination of 2 or more firms in the same market and the other is in different stages of producing the same good. |
| Define a stock. | certificate of ownership in a corporation. |
| An example of a horizontal merger. | John D. Rockefeller's oil company |
| An example of a vertical merger. | Carnegie Steel Company |
| Define conglomerate. | business combination merging more than 3 business that make unrelated products |
| What are types of cooperative organizations? | consumer, service, producer |
| What are types of non-profit organizations? | professional organizations, business associations, trade associations and labor unions |
| One advantage of a franchise. | management training and support |
Created by:
e.k.
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