1. Business Organizations

2. Business Organizations
Sole Proprietorship
Type of business owned and operated by one person.
Partnership
Type of business owned and operated by two or more people.
Limited Partnership
Type of business where one or more partners bear little to no risk.

3. Business Organizations
Joint Venture
Temporary partnership set up for a specific purpose for a set period of time.
Corporation
Type of business owned by many people and treated by law as though it were a person.
Franchise
Type of business in which one business sells to another business the right to use their name and products.

4. Mergers
Merger
The combining of 2 or more companies to make one company

5. Types of Mergers Horizontal Merger
When two or more companies that are in the same business merge
I & K Yard Services
Landscaping by
Kira
Iya’s
Shrubs

6. Types of Mergers Vertical Merger
Gas Stations
Vertical Merger
When companies that are in the line of production merge and become one company
Oil Refineries
Oil Fields

7. Types of Mergers Conglomerate
When many business (3 or more) that make unrelated products combine to make one company

8. Proctor and Gamble
Swiffer
Pringles
Duracell
MACH3
Crest
Puma
Pampers

10. Market Structures Perfect competition Monopolistic Competition
A market structure in which a large number of firms produce the same product.
Monopolistic Competition
A market structure in which many companies sell similar but slightly different products.

11. Market Structures Oligopoly Monopoly
A market structure in which a few large firms dominate a market.
Monopoly
a market dominated by a single seller

12. Comparing Market Structures
Perfect Competition
Monopolistic Competition
Oligopoly
Monopoly
Number of Firms in the Industry
Many
A few dominate the industry
One
Product Differentiation
None
Some
Control over prices
Little
Complete
Examples
Wheat
Jeans, books
Cars, movie studios, breakfast cereals
Public Water

13. Types of Monopolies Natural Monopoly Geographic Monopoly
Technological Monopoly
Government Monopoly

15. Game Theory

16. It is a strategic business plan among competitors
Game Theory
A mathematical method of decision making in which a competitive situation is analyzed to determine the optimal course of action for a participant.
It is a strategic business plan among competitors

17. What is Game Theory? The prisoner’s dilemma
Johnny and Frankie get busted by the police
They separate the suspects and begin to interview them
They place an offer on the table to each one
Confess that the both of you committed the crime and you will spend less time in jail than your partner
If you don’t confess and he does, you will spend more time in jail

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21. College Degrees On a sheet of paper answer the following:
What is the major theme of the article?
Give examples from the article that proves this.
Write 1 or 2 paragraphs answering these:
What are your plans after high school?
What school are you planning to attend?
What major are you planning to complete?
What is your career goal?

22. Let’s Play