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Econ unit 3 vocab | Questions And Answers Latest {} A+ Graded | 100% Verified
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Econ unit 3 vocab | Questions And Answers Latest {} A+ Graded | 100% Verified
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Econ unit 3 vocab | Questions And Answers Latest {2024- 2025} A+ Graded |100% Verified
Sole Proprietorship - A business owned by one person
zoning laws - laws in a city or town that designate certain areas, or zones, for residential and business
use
liability - An amount owed by a business
fringe benefits - payments to employees other than wages or salary
Partnership - A business in which two or more persons combine their assets and skills
General Partnership - partnership in which partners share equally in both responsibility and liability
Limited liability partnership - All partners are limited partners and not responsible for the debts and
other liabilities of other partners
limited partnership - form of partnership where one or more partners are not active in the daily running
of the business, and whose liability for the partnership's debt is restricted to the amount invested in the
business
Assets - resources owned by a business
business franchise - an arrangement in which a parent company, or franchiser, distributes its products or
services through independently owned outlets
Royalties - The share of earnings given by a franchisee as payment to the franchiser
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