Economics Unit 3 Standard E 3.2 Flashcards | StudBudEconomics Unit 3 Standard E 3.2
Unit 3 Vocabulary
1sole proprietorship
- a market that is dominated by a single selleer
- business owned and managed by a single individual
- legal entity owned by individual stock holders
- business owned and managed by multiple individuals
2bonds
- a way to buy and sell stock
- large number of firms produce the same product
- repay borrowed money, interest, fixed intervals
- a way to keep the markets together
3corporations
- legal entity owned by individual stockholder
- a market of buying and selling
- a substitute good
- few large firms dominate a market
4Stock Market
- a market for buying and selling stock
- market for selling goods
5partnership
- business firm owned and run by two or more people
- business firm owned and run by one person
- formal contract to repay borrowed money
- a few large firms dominate the market
