Vocab Unit 9 Flashcards
What does corporation mean
A business authorized by law to act as a legal person
What does Entrepreneurship mean
Process of starting in managing a business
What does profit mean
Amount a company makes per sale
What does entity mean
Something that exist as a District independent or self-contained unit
What does liability mean
The state of being responsible for something
What does partner mean
A person who takes part in a undertaking with others
What does partnership mean
Two people join together in a business venture
What does proprietorship mean
One owner who takes all the risks and all the profits
What does capital mean
Something used to produce goods
What does investor
A person who provides capital to an entrepreneur
What does investment mean
Money give to and entrepreneur in return for the part of the company
What does intermediary mean
The middleman
What is a bank
Licensed Business that receives deposits
What is Circular flow
The interaction tween producers consumers and government
What does credit union mean
Financial co-operative
