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Understanding Business Structures and Market Types

Explore different types of business ownership like Sole Proprietorship, Partnership, Corporation, and market structures such as Monopoly, Oligopoly, and Perfect Competition. Learn the concept of liability, revenue, and market dominance.

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Understanding Business Structures and Market Types

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  1. Week 5 Vocabulary Review

  2. A way for buyers and sellers to exchange things. Liability Corporation Partnership Market Revenue Sole proprietorship Oligopoly Monopolistic competition Perfect competition monopoly

  3. A business owned by 2 or more people. Liability Corporation Partnership Market Revenue Sole proprietorship Oligopoly Monopolistic competition Perfect competition monopoly

  4. Income earned either through sales or taxes. Liability Corporation Partnership Market Revenue Sole proprietorship Oligopoly Monopolistic competition Perfect competition monopoly

  5. A business owned by stockholders. Liability Corporation Partnership Market Revenue Sole proprietorship Oligopoly Monopolistic competition Perfect competition monopoly

  6. A business owned by one person. Liability Corporation Partnership Market Revenue Sole proprietorship Oligopoly Monopolistic competition Perfect competition monopoly

  7. A market structure in which all goods and services are identical. Liability Corporation Partnership Market Revenue Sole proprietorship Oligopoly Monopolistic competition Perfect competition monopoly

  8. A market structure dominated by one large firm. Liability Corporation Partnership Market Revenue Sole proprietorship Oligopoly Monopolistic competition Perfect competition monopoly

  9. The responsibility for all debt, duties, and problems in a business. Liability Corporation Partnership Market Revenue Sole proprietorship Oligopoly Monopolistic competition Perfect competition monopoly

  10. A market structure in which a few large firms sell similar products. Liability Corporation Partnership Market Revenue Sole proprietorship Oligopoly Monopolistic competition Perfect competition monopoly

  11. A market structure in which manycompanies sell similar products. Liability Corporation Partnership Market Revenue Sole proprietorship Oligopoly Monopolistic competition Perfect competition monopoly

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