chapter 6 Economics

Largest labour sector in Canada today employing almost 75% of the population

Disadvantages of co-operatives include

Co-operatives...

Disadvantage of sole proprietorship

A___ or a limited company is a firm with its own entity and rights

Benefits of sole proprietorship include

Advantages of corporations

A business firm owned equally by its various members

True/False: Corporations can trade shares publicly or privately

Purchasing power parity (PPP) is measured by the Economist in ___ (found in over 100 nations)

Number of customers served daily at McDonald's

Disadvantages of a corporation

These shares provide owners with voting rights

Which of the following type of business does McDonald's fall under

Shareholders can vote of corporate decisions at an annual general meeting in person or by ___

The owners of a corporation are called

Number of McDonald's in America

Disadvantages of partnerships include:

Advantages of a partnership include

people organized funds and abilities into units of ownership also called

Businesses in Canada that are owned by the federal, provincial or municipal government

First McDonald's opened in

Number of McDonald's in the world

Canada's economy emerged in response to the demands of ____ (such as fish, fur,lumber)

True/False: Limited partners are only personally liable to debts ups to amount invested

True/False: A corporation can be established only through government authority

Examples of crown corporations

These shares do not give you a vote but give you a first crack at profits

A partnership is bound by the terms of a legal document known as a

Number of countries with McDonald's

Corporate assets are divided into equal parts and are called

True or False: Limited partners are allowed to take part in the management of the business

Firmed owned by 2 or more people is called

A business owned and operated by one person

Number of McDonald's employees