Competitive Market

Question 1

a social institution organized informally or organized through the use of legal procedure (productive and distributive purposes)

Answer 1

Business Enterprise

Question 2

a household-based small business under Sole Proprietorship (small equates to micro)

Answer 2

Micro-Enterprise

Question 3

business enterprise or agreement between two or more people with JOINT ownership and liabilities of a business (shared responsibilities and liabilities)

Answer 3

Partnership

Question 4

created under the operation of LAw, giving emphasis to legal personality (Selling stocks, IPO, Borrowing of banks)

Answer 4

Corporations

Question 5

capital for operations is raised from funds GENERATED in the ISSUANCE and selling of stocks to the public

Answer 5

Stock Corporations

Question 6

funded by the NON-ISSUANCE stocks to the public

Answer 6

Non-Stock Corporation

Question 7

surplus is distributed in terms of DIVIDEND to the major shareholders (profit equates to dividend)

Answer 7

Corporation for Profit

Question 8

the surplus goes back to the corporation and are not distributed to its owner (DOING SOME ADVOCACIES)

Answer 8

Nonprofit Corporations