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Chaptetr 5

Business in the U.S. Economy

QuestionAnswer
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.
Created by: Jessica Fudge
 

 



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