Business Firm

PART I: FIRM A  credit line firm (also cognise as  confederation, enterprise, or firm) is a leg wholey recognized  make-up designed to provide goods, services, or both to consumers or third business in exchange for money.[1] Businesses are predominant in capitalist economies, in which more or less businesses are privately own and typically formed to earn profit that will cast up the wealth of its possessors. The owners and operators of private, for-profit businesses have as one of their main objectives the pass or generation of a financial return in exchange for work and acceptance of risk. Businesses can also be formed not-for-profit or be state- possess. The etymology of business relates to the state of universe busy either as an individual or club as a whole, doing commercially viable and profitable work. The verge business has at least three usages, depending on the grasp â€" the singular usage (above) to mean a event company or corporation, the generalized usage to refer to a particular market sector, such as the music business and fuse forms such as agribusiness, or the broadest meaning to include all activity by the community of suppliers of goods and services. However, the exact definition of business, like much else in the philosophy of business, is a matter of delve and complexity of meanings.

------------------------------------------------- Basic forms of ownership of a business firm Although forms of business ownership vary by jurisdiction, there are several(prenominal) common forms: * Sole proprietary: A sole proprietorship is a business owned by one person. The owner may operate on his or her own or may employ others. The owner of the business has unlimited  liability of the debts incurred by the business. * Partnership: A form of business owned by two or more people. In most forms of partnerships, each partner has unlimited liability of the debts incurred by the business. in that location are three typical classifications of partnerships: general... If you want to get a full essay, order it on our website: Orderessay

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