________ is the most valuable resource that most households sell.
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Households
________ make a variety of decisions as buyers and sellers of products and services, including what to buy, how much to save, where to live, and where to work.
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California
Sunkist, for example, is a farm cooperative that is owned and run by farmers where their facility is in ________ and Arizona, there are around 6, 500 citrus farmers.
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4
sole proprietorship
single - owner company, is the most basic type of business structure.
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Partners
________ have more collective bargaining power and, as a result, find it simpler than sole proprietors to obtain the necessary cash to get the firm up and running.
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Not for profit organizations
The ________ refer to engaging in charitable, educational, humanitarian, cultural, professional, and other activities, often with a social purpose.
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federal government
The ________ is largely on the personal income tax, while states are reliant on income and sales taxes, and municipalities are reliant on the property tax.
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private markets
When ________ produce unfavorable outcomes, the government may step in to correct market failures.
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Partnership
more sophisticated type of business in which two or more people agree to pool their finances and labor in exchange for a share of any profit or loss
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Consumer Cooperative
retail business owned and operated by some or all of its customers in order to reduce costs
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Flashcard (40)