Entrep 2

Cards (11)

Sole proprietorship 
Business owned and controlled by an individual
General partnership 
2 or more who share responsibilities
Corporation 
Consists of individuals, shareholders, stockholders
Co-op 
Business that is fully owned and operated for the benefit of the members of the organization that uses its services
Market equilibrium 
High supply, high demand
Surplus 
High supply, low demand
Scarcity 
Low supply, high demand
B2C 
Business to consumer transaction that occurs directly between the business and the consumer
B2B 
Business to business transaction that occurs between 2 businesses (i.e. a furniture manufacturer buying supplies from a supplier)
Market 
Where the exchange of goods and services takes place
Innovation 
Improving an existing product