Warm-up and Review Take out your sheet on Supply and Demand from yesterday then answer the following- 1. State the Law of Demand. 2. State the Law of Supply.

Slides:



Advertisements
Similar presentations
Business Organizations
Advertisements

The Role of Sole Proprietorships
Business Organizations
Business Organizations
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Chapter 8.  Establishment formed to carry on a commercial enterprise  Sometimes called a company or a firm  Most of the time firms are formed to produce.
Mr. Duggan/ Economics BUSINESS AND LABOR. SOLE PROPRIETORSHIPS Is a business owned and managed by a single individual.
Chapter 22 Business and Labor.
Section 3  A Corporation is a legal entity owned by individual stockholders. › Stock is a certificate of ownership in a corporation.
Business Organization
Ch 8 Business Organizations. Warm-up 1982: Internet is first used 1989: Apple launched 1994: Yahoo.com 1996: Dell.com 2004: Facebook 2005: Youtube 2006:
Start this week’s warm-ups on a new page. Pass up last week’s warm-ups (4/29- 5/3) 1. What is the Law of Demand? Law of Supply? 2. Describe 2 situations.
Drill 4/21  1. What is a limited liability partnership?  2. What type of jobs usually engage in limited liability partnerships?
© 2012 Best Teacher Resources A B C D E F ??????? ??????? ??????? ??????? ??????? ???????
Chapter 8: Business Organizations Section 3
Chapter 8SectionMain Menu Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship?
Ch. 8: Business Organizations. Business Brainstorm Think of your business, would you want to own it by yourself, or with others? – What are the pros/cons.
Chapter 8 Business Organizations. What is a Business Organization? A business organization is an establishment formed to carry on commercial enterprise.
Mrs. Post – CHS Adapted from Prentice Hall Presentation Software.
SECTION1 Chap. 8 Business Organizations  business organization: an establishment formed to carry on commercial enterprise.  3 basic ways to set up a.
Presentation Pro © 2001 by Prentice Hall, Inc. Economics: Principles in Action C H A P T E R 8 Business Organizations.
Warm Up (b/c its cold outside)  What is economics the study of?  What is scarcity?  What does shortage mean?  What does surplus mean?  What is the.
Chapter 8SectionMain Menu Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship?
Chapter 8 Business Organizations. Advantages of Sole Proprietorships.
Businesses & Labor Chapter 3. Business Organization Company started in order to carry out transactions in a market.
 Types of Businesses Organizations Unit 7 Decision, Decisions.
CHAPTER 8 – TYPES OF BUSINESS ORGANIZATIONS. SECTION 1 – SOLE PROPRIETORSHIPS  Characteristics of Sole Proprietorships (single person owned business)
Chapter 8SectionMain Menu Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship?
1 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt You’ve.
Contraction TroughExpansion Peak The business cycle is a period of macroeconomic expansion followed by a period of contraction. During the expansion.
Civics & Economics Mr. Vivian. Sole Proprietorship A business owned and managed by a single individual According to the IRS 75% of all businesses in the.
Chapter 8SectionMain Menu Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship?
Business and Labor. Business Organization: an establishment formed to carry on commercial enterprise…a business/firm.
Chapter 8 Business Organizations A business organization is an establishment formed to carry on commercial enterprise.
BUSINESS ORGANIZATIONS Chapter Eight. SOLE PROPRIETORSHIPS Section One.
Types of Businesses Chapter 22 Section 1 The American Labor Force Chapter 22 Section 2 Businesses in Our Economy Chapter 22 Section 3.
Topic 5: Business and Labor. I.Sole Proprietorships A.The Role of Sole Proprietorships 1.Def: a business owned & managed by a single individual 2.Is a.
Chapter 8SectionMain Menu sole proprietorship A sole proprietorship is a business owned and managed by a single individual. The Role of Sole Proprietorships.
Business organizations
Bellringer 12/9 No bellringer today- just a notebook check!
The Role of Sole Proprietorships
Business Organizations
Business organizations
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
“Business Organizations and Competition”
The Structure of Business
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Business Organizations
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Business Organizations
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Part One Business Organizations
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Topic 5: Business and Labor
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages.
The Role of Sole Proprietorships
Presentation transcript:

Warm-up and Review Take out your sheet on Supply and Demand from yesterday then answer the following- 1. State the Law of Demand. 2. State the Law of Supply. 3. What happens when the supply and demand are equal? 4. What are some synonyms for shortage? 5. What are some synonyms for surplus? 6. Tell about compliments and substitutes. List some examples.

TYPES OF BUSINESSES AND LABOR UNIONS

Types of Business  Sole proprietorship- a business owned and managed by a single individual  According to the IRS 75% of all businesses in US are sole but these generate only about 6% of US sales

Types of Business- Sole Proprietorship Advantages  Easy start-up (business licenses, site permit, name of business)  Sole receiver of profit  Full control of business  Easy to discontinue  Not subject to special business taxes Disadvantages  Unlimited personal liability  Liability is a legally bound obligation to pay debts- Sole proprietors are bound to all of their business debts  Limited access to resources  Limited life- business lack permanence beyond the life of the sole proprietor

Types of Business continued…  Partnerships- a business organization owned by two or more persons who agree on a specific division of responsibilities and profits

Types of Business- Partnership Advantages  Easy start-up  Shared decision making  Specialization- each partner can bring his or her talents  Larger pool of assets- helpful when the business needs to borrow money  Not subject to special business taxes Disadvantages  Unlimited liability  Each general partner is bound to debt incurred and responsible for paying this debt  General partners do not have absolute control over their business  Potential for conflict

Types of Business continued…  Corporations- a legal entity owned by individual stockholders  Stockholders own shares of stock- a certificated ownership in a corporations  Stockholders are part owners of the corporation.

Types of Business- Corporations Advantages  Limited liability for owners  Transferable ownership- owners can sell stock and get money in return  Long Life- business does not end with the death of the owners  More potential for growth Disadvantages  Expensive & difficult to start up  Double taxes  Corporations pay taxes on income  Stockholders receive dividends (profits paid out to stockholders)  Dividends are also taxed  Potential loss of control by the founders- Board of Directors usually run corporations  More legal requirements and regulations

Types of Business continued…  Multinational Corporation- a large corporation that produces and sells its goods and services throughout the world

Types of Business- Multinational Corporation Advantages  Provides jobs and products around the world  Efforts to spread new technology around the world  Increase standard of living in many poor countries Disadvantages  Low wages  Poor working conditions

Other Business Organizations  Some business operate on a “not for profit” basis  Examples- Churches, hospitals, social services institutions  Cooperatives- an association of persons united voluntarily to meet their common economic, social, and cultural needs through a jointly-owned and democratically-controlled enterprise

Other Business Organizations  Franchise- A large company allows an entrepreneur to open and manage an individual location of the business  Examples-

Corporate Combinations  Horizontal Merger- joining of two or more firms competing in the same market with the same good or service  Vertical Merger- joining of two or more firms involved in different stages of producing the same good or service  Conglomerate- merging of more than three businesses that make unrelated products

TAKE 2- Take 2 minutes to tell your elbow partner about the different types of businesses. Follow these steps- 1. Partner to the left describe a sole proprietorship 2. Partner to the right describe a partnership 3. Partner to the left describe a corporation 4. Partner to the right describe a multinational corporation

Labor  Productivity- the value of output  Unskilled labor- requires no specialized skills, education or training  Examples- dishwashers, many factory workers, janitors, farm workers  Semi-skilled labor- requires minimal specialized skill and education  Examples- short order cooks, some construction workers, lifeguards

Labor continued…  Skilled labor- requires specialized abilities and training to do tasks  Examples- mechanics, bank tellers, plumbers, firefighters, chefs, carpenters  Professional labor- demands advanced skills and education  Examples- managers, teachers, bankers, doctors, lawyers, actors, computer programmers

Wage Discrimination  Wage discrimination occurs when people with the same job, same skills and education, same job performance, and same seniority receive unequal pay  Women and minorities are among those who have experienced wage discrimination

Labor Unions  Labor Unions- an organization that tries to improve working conditions, wages, and benefits for its members  Right-to-work Laws- a measure that bans mandatory union membership (NC is a right-to work state)  Collective Bargaining- the union and company representatives meet to negotiate a new labor contract

Strikes and Labor Tactics  Strike- organized work stoppage intended to force an employer to address union demands

Strikes and Labor Tactics continued...  To avoid strike, a third party may be called in to settle a dispute  Mediation- neutral mediator meets with each side to try to find some solution; Decision reached by the mediator is nonbinding  Arbitration- a neutral third party reviews the case and imposes a decision that is legally binding for both sides

Strikes and Labor Tactics continued...  Picketing- striking workers walk outside a business to prevent anyone from entering  Boycott- the refusal to buy goods or services from a particular company as a way of protesting

Work Time! Use the rest of the class to work independently.  You may work on one of the following using BYOT or a school computer.  Notes (Due tomorrow)  Business Plan Project (Due Friday)  Study Guide (Due Wednesday)  Vocabulary (Due Thursday)  You may not sit and talk or work on another assignment!