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Unit 3: The Market Economy EC 2.9 Describe the various methods of organizing production. PowerPoint Presentation
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Unit 3: The Market Economy EC 2.9 Describe the various methods of organizing production. - PowerPoint PPT Presentation


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Unit 3: The Market Economy EC 2.9 Describe the various methods of organizing production. Essential Question: How are businesses organized in a market economy?. Entrepreneurship. A person who takes a risk to produce goods and services in search of a profit.

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slide1

Unit 3: The Market Economy

EC 2.9 Describe the various methods of organizing production.

Essential Question:

How are businesses organized in a market economy?

slide2

Entrepreneurship

  • A person who takes a risk to produce goods and services in search of a profit.
  • May establish a business according to any of the three types of organizational structures.

Click me!

slide4

Sole Proprietorship

  • A form of business organization with one owner who takes all of the risks and all of the profits.
  • Proprietor makes all decisions.
  • Proprietor risks everything.
  • Proprietor is their own boss.
  • Proprietor can keep all of the profits.
slide5

Sole Proprietorship

Examples:

Can YOU think of any?

slide6

Partnership

  • A form of business organization with two or more owners who share in the risks and the profits.
  • The partners make all of the decisions.
  • The partners share all the risks.
  • Most partnerships are small (2 people).
  • Can share the start-up costs.
  • Recognize partnerships by the name.
slide7

Partnership

Examples:

slide8

Corporation

  • A form of business organization that is authorized by law to act as a legal person regardless of the number of owners.
  • Owners share the profits and the risks.
  • Multiple stockholders can own the business.
  • Corporate leaders and stockholders make decisions.
slide9

Corporation

  • Stockholders risk their investment – the amount of the investment varies.
  • Each share of stock represents part of a corporation.
  • Permanent organization – you only risk the money you decide to put in (invest) and you decide how much to put in (invest).
slide10

Corporation

Examples:

New CEO of Apple, Inc.

Apple, Inc. Stockholders

slide11

Franchise

  • A business system that uses a company’s existing business model.
  • Business owners of each franchise are independent owners.
  • They become licensed, or pay into the established business plan, agreeing to follow that model.
  • The franchise provides training, resources, and support.
  • In exchange for a “ready to go” business, franchisees pay royalties, or portions of their profits, back to the franchise.
slide12

Cooperative

  • Businesses owned and operated jointly by a group of people.
  • The cooperative runs for the shared benefit of everyone in the co-op.
  • Many types of cooperatives exists, from social to retail. Some operate for a profit, while others are non-profit.
slide13

Business Ownership—

How Sweet it Is!

  • Go to
  • Go to www.econedlink.com
  • Search “How Sweet it Is”
  • Scroll down to Activity 2—”Sweet Opportunity”
    • Follow the link and read each client stories
    • Head your own paper—“Client Recommendations” and
    • write a recommendation for each client
    • Scroll down to Activity 3—”Sweet Success”
    • On the back of your paper, head it “Sweet Success”
    • Choose an entrepreneur and answer the questions