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| Division of Labor | economic concept that refers to the separation of a work process into a number of task, each performed by a different worker or group of workers |
| assembly line | a production process that breaks the manufacture of a good into steps that are completed in a pre-defined sequence |
| Trusts | organizations of several businesses in the some industry that control production and distribution of a product of service, thereby limiting competition. |
| Monopoly | situations where a single person or business is the only supplier or seller of a good or service in a market or industry |
| Natural Monopoly | situation where the most efficient number of firms in the industry is one. |
| Cartel | a group of firms or nations that collude to limit competition within an industry or market; control the price or supply of a commodity through mutual restraint on production. |
| Vertical integration/merger | a strategy or form of business organization in which a company combines or controls different stages of production or distribution of a good under a single ownership or management |
| Horizontal integration/merger | a competitive strategy where business entities operating at the value chain level and within the same industry merge to increase the production of goods and services. |
| Interlocking directorates | refers to the practice of members of a corporate board of directors serving on the boards of multiple corporations. |
| Oligopoly | a market structure where a small number of firms have significant influence or market power, but do not control the market. |
| Sole Proprietorship | is an unincorporated business that has just one owner who pays personal income tax on profits earned from the business |
| Partnerships | a type of business organization where two or more people share ownership and management of the company, as well as its profits and losses. |
| Corporations | A corporation is a legal entity created by individuals, stockholders, or shareholders, with the purpose of operating for profit. |
| Nonprofits | a legal entity organized and operated for a collective, public or social benefit, in contrary with an entity that operates as a business aiming to generate a profit for its owners. |
| Cooperatives | is an association of persons (organization) that is owned and controlled by the people to meet their common economic, social, and/or cultural needs and aspirations through a jointly-owned and democratically controlled business (enterprise). |
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