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OCCUPATIONAL MOBILITY: The mobility, or movement, of factors of production from one type of productive activity to another type of productive activity. In particular, occupational mobility is the ease with which resources can change occupations. For example, a worker leaves a job as an accountant to takes a job as a computer programmer. Some factors are highly mobile and thus can easily moved jobs. Other factors are highly immobile and not easily able to switch production activities.
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Lesson 13: The Firm | Unit 3: Legal Types
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Page: 14 of 24
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- A partnership:
- A partnership is a firm owned and operated, more or less equally, by a two or more people. Each partner shares in the ownership, operation, rewards, and costs of the firm.
- Let's consider the pluses and minuses of a partnership.
- Advantages: On the pro side, multiple owners increase the amount of capital that can be accumulated.
- Disadvantages: The primary con of a partnership, like that of proprietorship, is unlimited liability.
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CORPORATE PROFITS DISTRIBUTION Corporate profits are the excess revenue received by corporations over their accounting costs of production. Total corporate profits are distributed in three ways. One portion is used to pay corporate profits taxes. A second is undistributed corporate profits retained by corporations to finance capital investment. And a third is then paid out as dividends to shareholders, or corporate owners.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either a wall poster commemorating last Friday (you know why) or a country wreathe. Be on the lookout for defective microphones.
Your Complete Scope
This isn't me! What am I?
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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RJE
RAND Journal of Economics
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