Business Unit Review

Business Organizations Unlimited liability Most common form of business Least common Board of directors Charters Two types of partners Advantages and disadvantages to all three There are 3 business organizations Sole Proprietorship Partnership Corporation Other: non profit co-ops

Multinational Conglomerate Business growth Business Other Types of merges An example of a conglomerate Reasons for merging Disadvantages and advantages to multinationals Multinational Conglomerate Business growth

Market Structures Market Failure Perfect competition Monopolistic competition Oligopoly Monopoly Externalities Public goods Which has the most competition? Uses marking and advertising? Examples of oligopolies Types of monopolies Conditions for perfect competitive markets

Business Cycle Every business follows a business cycle It is systematic Business fluctuations are unsystematic Two phases Two points GDP

Inflation Inflation (too much money chasing too few goods) (rise in the level of prices overtime) Demand pull Cost push Deflation Tightening of the money supply Stagflation