Correct any falsehoods in the statement. A business owned by two or more people that is not incorporated is called a proprietorship. The right to own and use private property is guaranteed by the United States Constitution. In a command economy, no one person or group decides how many people will work in a certain job. In a mixed economy, the government sometimes acts as referee.
Partnerships receive charters to operate from states.
The managers of a corporation decide when to issue dividends to stockholders. Have students locate a newspaper article or Internet news web page with an economic story. Have students summarize and describe the article to the class. Define and discuss each.