Unit 2
Characteristics of Capitalism and Business Organizations
“Capitalism knows only one color: that color is green [the color of money]; all else is necessarily subservient to it, hence, race, gender and ethnicity cannot be considered within it.” - Thomas Sowell
Essential Questions
1) How does competition affect the markets?
2) How can businesses and labor best achieve their goals?
3) Why is competition a pillar of the free enterprise system?
4) How do corporations get the money to start or expand operations?
5) How does competition determine the type of market structure?
6) Why is unlimited liability a major/key disadvantage in sole proprietorships and partnerships?
Student Objectives
Students will be able to explain...
1) market structures.
2) and identify the types of business ownerships.
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Business Organization
Market Structures
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Private Property
Role of Business in the US Economy
