Ch. 7-8 Test is Monday (warm-ups due on day of test)

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Presentation transcript:

Ch. 7-8 Test is Monday (warm-ups due on day of test) ECONOMICS: October 16 Warm-up (using textbook) Please copy the top and bottom pie chart from p. 213. Why do you think sole proprietorships compose the largest number of business organizations, yet have the smallest percentage of profits? Economics Learning Target In order to understand business organizations, I will analyze the different types of business organizations. I will know I have it when I can list and explain the advantages and disadvantages of sole proprietorships and partnerships especially in terms of: (1) ease of formation; (2) owner and operator liability; (3) ability to raise money;(4) ability to make money; and (5) taxation. Business Organizations (how businesses choose to organize): (use textbook to answer questions on HO) --sole proprietorships -definition; advantages; disadvantages -high points (sole right to profits; unlimited liability; liability example) --partnerships -definition; general vs. limited; advantages; disadvantages Assignment Make sure you have read Ch. 8, Lesson 1 Ch. 7-8 Test is Monday (warm-ups due on day of test)