1. Types of Businesses

2. How many businesses can you name in one minute?

3. There are ____________ basic ways that businesses organize to earn profits.
Three

4. Sole Proprietorship

5. 1 Owner
Sole Proprietorship
All Profits
All Risk/Liability

6. Partnership

7. 2+ Owners
Partnership
Share Profits
Share Risk/
Liability

8. Corporation

9. Risk/Liability is limited
Authorized by
law to act as a
legal person
Corporation
Owners Share
Profits
*Double
Taxation
Risk/Liability is limited
to investment

10. $ $ Double Taxation Consumers Business Government #1 #2 Stockholder
Taxes on Profit $ #1 #2
Taxes on Income
Government
Taxes

11. Corporation: Stocks Stockholders
____________ (shares) pieces of ownership in a corporation.
Stocks
__________________ (shareholders) are owners of a corporation.
Stockholders

12. Entrepreneur:

13. Entrepreneur:
A person who takes risk to produce goods and services in search of profit.
May establish a business according to any of the three types of organizational structures.
Entrepreneurs play an important role in all three business organizations.

14. Complete the Processing Activity