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C CORPORATION: The term used for a standard corporation to distinguish it from the new S corporation. As such, it is established as a separate legal entity, sells ownership shares, and owners have limited liability. The difference is that a C corporation is subject to double taxation but an S corporation is not.
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SCARCE RESOURCES Labor, capital, land, and entrepreneurship used by society to produce consumer satisfying goods and services. Scarce resources, also termed just resources, are often given the more descriptive term factors of production.
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Al Capone's business card said he was a used furniture dealer.
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"Every generation of Americans needs to know that freedom exists not in doing what we like, but in having the right to do what we ought. " -- Pope John Paul II
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BA Bank Acceptance
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