ECONOMICS: March 2 (sub)

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Presentation transcript:

ECONOMICS: March 2 (sub) 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 and skip “Liability Example” on bottom of both sides—we will discuss that part on Monday)—TURN IN --sole proprietorships -definition; advantages; disadvantages --partnerships -definition; general vs. limited; advantages; disadvantages --when done with HO, read about corporations (pp. 216-219) Assignment: read Ch. 8, Sect. 1 Ch. 7-8 Test is Friday, March 9th (warm-ups due on day of test)