3.1 Forms of Business Organizations
Unit 1 Lesson 7: Forms of Business Organizations
Main Idea
Businesses may be organized as individual proprietorship, partnerships, or corporations. There are three main forms of business organizations in the American economy today-the sole proprietorship, partnerships, and the corporation. Each offers its owners significant advantages and disadvantages.
Lesson Objectives
By the end of this lesson, students should be able to:
Businesses may be organized as individual proprietorship, partnerships, or corporations. There are three main forms of business organizations in the American economy today-the sole proprietorship, partnerships, and the corporation. Each offers its owners significant advantages and disadvantages.
Lesson Objectives
By the end of this lesson, students should be able to:
- Describe the characteristics of the sole proprietorship
- Describe the characteristics of partnerships.
- Describe the characteristics of the corporation.
Reading Assignment
Read pages 57-66 in Economics: Principles & Practices. Complete the Guided Reading Activity (print it) as you read. Turn it in after you have completed it.