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ownerships

Corporation

Partenership

Sole proportiership

Definitions

equilibrium price: point where demnd curve

routine decisions: regular decisions with less impact

Common stocks: shareholders become owners

prefered stocks: pays dividens to shareholders, does not represent ownership

Scarcity: limited resources

stocks: business share the value indicates the statues of the company

Profit: what is left of a business income after the expenses of doing business have been substracted.