3. Introductions of Business Forms A business (also known as company, enterprise ,or firm ) is a legally recognized organization designed to provide good , service , or both to consumers or tertiary business in exchange for money. Business are predominant in capitalist economies , in which most businesses are privately owned and typically formed to earn profit that will increase the wealth of its owners . The owners and operators of private, for profit businesses have as one of their main objective the receipt or generation of a financial return in exchange for work and acceptance of risk. Business can also be formed not to profit or be state owned
6. Partnership:- a form of for profit business owned by two or more people .there are three typical classification of partnerships : general, limited and limited liability partnerships .
7. corporation:- Can be either public or private in nature . A public company is often listed on the stock exchange and typically has unlimited liability .
8. Cooperative:- Often referred to as a “ Co-Op” a cooperative is a limited liability entity that can be organized for –profit or not for-profit . A for –profit cooperation in that it has members opposed to shareholders , who share decision making authority .