ECON 101 Chapter Notes - Chapter 7: Limited Partnership, Nonprofit Organization, Marginal Product
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ECON 101 Full Course Notes
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General partners take part in the running of the business and are liable for all the firm"s debts. The shares of a private corporation are not traded on any stock exchange, whereas the shares of a public corporation are. usually under the direction of a more or less independent, state- appointed board. Although its ownership differs, the organization and legal status of a state-owned enterprise are similar to those of a corporation. Multinational enterprises (mnes), forms that have operations in more than one country: unusual for single proprietorships and ordinary partnerships, common for limited partnerships and corporations. Financial capital is the money firms raise. Real capital is the firm"s physical assets. Economists can assume businesses decisions based on their drive to redemption date. Intermediate products: all outputs that are used as inputs by other producers in a further stage of production.
