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KILLER APPLICATION: A computer program that is so incredibly useful, popular, and profitable that the company responsible for development achieves enormous growth in a relatively short time period. Several computer companies developed killer applications during the 1980s and 1990s, which contributed greatly to the computer revolution. The Lotus 1-2-3 spreadsheet program was among the first, and perhaps most noted, killer applications. This program motivated millions of businesses and consumers in the early 1980ds to purchase personal computers.

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Lesson 13: The Firm | Unit 3: Legal Types Page: 13 of 24

Topic: Proprietorship <=PAGE BACK | PAGE NEXT=>

  • A proprietorship:.

  • A proprietorship is a firm owned and operated by a single person. The proprietor/owner often provides a sizeable share of the resources, especially labor and capital.
  • Let's consider some of the pros and cons of a proprietorship:

    • Advantages: On the plus side of the ledger account, the owner of a proprietorship is TOTALLY in charge. The owner decides what to do, how to do, and more often than not actually does the work.

    • Disadvantages: The primary entry on the negative side of the ledger account is unlimited liability.

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LABOR FORCE

The total number of people in an economy, society, or country willing and able to exert mental and/or physical efforts in productive activities. The labor force is a more technical term for the labor resource or labor supply. It includes both employed workers and unemployed workers. An official variation of this term is civilian labor force. While labor force may or may not include military personnel, the civilian labor force explicitly excludes the military. Labor and labor resources are the theoretical terms that economists like to banter about. Labor force and civilian labor force are the terms of choice for government policy makers, data-crunchers, and others who need precise labor resource numbers.

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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time browsing about a thrift store looking to buy either a solid oak entertainment center or a remote controlled ceiling fan. Be on the lookout for the happiest person in the room.
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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
"The time to repair the roof is when the sun is shining."

-- John F. Kennedy, 35th U. S. president

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