Questions for economic reasoning and discussion
The three types of business ownership - sole proprietorship, partnership, and corporation - each has several advantages and disadvantages. Classify each of the characteristics of the different forms of business as advantages or disadvantages. Some characteristics may be used more than once.
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Advantages |
Disadvantages |
Sole proprietorship |
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Partnership |
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Corporation |
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Would you like to own your own business? Why or why not? If so, would you prefer to buy an existing business or start from the first? Explain your choice. __________________________________________________________________________________________________________________________________________________________________________________________________________________
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What product or service would you provide?
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What talents, interests, skills, and abilities do you have that can make you successful in this business?
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Where would you want to locate the business and for what reasons? ______________________________________________________________________
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What type of business organization would you prefer? (sole proprietorship, partnership, corporation)? Explain you choice.
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