1.02 Types of Businesses

Match it! Select the correct answer from the pull down...Good luck!

Owned by stockholders and treated by the law as its own entity

Taco Bell and Blockbuster would be two examples of this type of business

Must share the profits and the risks equally

Owned by two or more people

You have to follow strict rules on how to run the business

Has limited liability (cannot be sued for everything), is taxed, and government monitors closely

The easiest type of business to start but has unlimited liability (can be sued for everything)

Contractual agreement between the parent company and the business operator to sell a company's products or services in a specific geographic area