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Week 9 - Day 1 Lecture Notes - Chapter 10

by: Erika Huber

Week 9 - Day 1 Lecture Notes - Chapter 10 Eco 2023

Marketplace > University of Florida > Economics > Eco 2023 > Week 9 Day 1 Lecture Notes Chapter 10
Erika Huber
GPA 4.0

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Chapter 10: Introduction to Business Firms 10/17/16 Week 9 - Day 1 Lecture Notes
Principles of Economics: Microeconomics
Mark Rush
Class Notes
business, firms
25 ?




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This 2 page Class Notes was uploaded by Erika Huber on Monday October 17, 2016. The Class Notes belongs to Eco 2023 at University of Florida taught by Mark Rush in Fall 2016. Since its upload, it has received 3 views. For similar materials see Principles of Economics: Microeconomics in Economics at University of Florida.


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Date Created: 10/17/16
10/17/16 ECO 2023 Week 9 – Day 1 Lecture Notes Chapter 10: Introduction to Business Firms  Rule of 72: The approximate number of years it takes for something to double equals 72 divided by the growth rate. Introduction to Business Firms: Three major forms of business organization: 1. Proprietorship: a. Single owner b. Advantages: i. Simple ii. Profits taxed once c. Disadvantages: i. Unlimited liability 2. Partnership a. Owned by 2 or more partners b. Advantages: i. profits taxed once c. Disadvantages: i. Unlimited liability 3. Corporation a. Owned by one or more shareholders b. Advantages: i. Limited liability c. Disadvantages: i. Profits are taxed twice 1. Once at the corporate level and once at the individual level d. Corporations often have millions of owners. How are they run? i. Shareholders ii. Board of Directors - Dividend iii. Managers Stock Terms  EPS = Earnings Per Share  PE Ratio = Price/Earnings Ratio  Recommended book: A Random Walk Down Wall Street by: Burton G. Malkiel


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