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Ch. 4-Applications of Demand & Supply
N/A
10
Economics
Undergraduate 1
03/26/2015

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Cards

Term
Sole Proprietorship
Definition
A firm owned by one individual.
Term
Partnership
Definition
A firm owned by several individuals.
Term
Corporation
Definition
A firm owned by shareholders who hold stock in the firm.
Term
Corporate Stock
Definition
Shares in the ownership of a corporation.
Term
Stock Market
Definition
The set of institutions in which shares of stock are bought and sold.
Term
Retained Earnings
Definition
Profits kept by a company.
Term
Dividends
Definition
Profits distributed to shareholders.
Term
Price Floor
Definition
A minimum allowable price set above the equilibrium price.
Term
Price Ceiling
Definition
A maximum allowable price.
Term
Third-party Payer
Definition
An agent other than the seller or the buyer who pays part of the price of a good or service.
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