Supply Demand Curves and Businesses.docx - Tort is any...

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Tort is any wrongdoing not involving breach of contract for which a legal action for damages may be filed. corporation : limited liability in terms of personal assets, continuity of life, centralization of management, and the ability to transfer ownership interests. A sole proprietorshi p is an unincorporated business owned by a lone individual. A partnership is a business owned jointly by two or more people. Regular corporations are called C corporations after Subchapter C in chapter 1 of the Internal Revenue Code. – Separate corporation and personal taxes, corp is liable An S corporation , or S corp, is a corporation that has received the designation as Subchapter S according to the IRS. - stocks The limited liability company —LLC—is a cross between the limited liability feature of a corporation and the taxation and operational features of a partnership. A cooperative (co-op) is an organization owned and operated by people who use its services and are designated as members, or user-owners. A franchise is a relationship between the owner of a trademark, service mark, trade name, or advertising symbol, and an individual or group (the franchisee) that wants to exploit such identification in a business. There is an equilibrium point at which the demand meets supply. In other words, the equilibrium price of a good or service is the one price at which quantity supplied equals quantity demanded.

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