Business Semester Review

Organization owned by many people and treated by law as if it were a single entity.

Responsibility for debts beyond the business's assets.

Working without prompting from someone else to achieve one's goals.

Business or firm owned by one person.

Money you need to get your business going.

Person who recognizes a business opportunity and assumes the risk of doing business.

A license to operate a business within a particular state

People who set their own goals rather than having them set by a manager or boss

The money that new business owners must spend in order to establish their business.

Risk that is carefully planned in advance so that the probability of success is high.

Being responsible for losses of a business only to the extent of your financial involvement.

Written description of a new business venture that describes all aspects of the business.

Legal permit for doing business.

New owners that pay a price for a share of ownership in a business.

Statistics about the characteristics of human populations.

Business organization with two or more owners.

Grant or right to sell a parent company's product or service within a given area.

A group of individuals chosen to make the major decisions of the company.

Independently owned business that serves a limited geographic area.

Shares of ownership in a corporation.

The cost of producing or acquiring a company's products for sale during a given period.