miércoles, 9 de marzo de 2011

The Corporation!

 CAPITALISM is an “economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth”.

A PSYCHOPATH is a person afflicted with a personality disorder characterized by a tendency to commit antisocial and sometimes violent acts and a failure to feel guilt for such acts.

LEGAL INSTITUTIONS are institutions formed by more than one person and that functions under the legality, legal institutions can go from a marriage to a formed corporation.

 AN EXTERNALITY occurs in economics when a decision (for example, to pollute the atmosphere) causes costs or benefits to individuals or groups other than the person making the decision.

LIMITED LIABILITY IS a concept whereby a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a company or partnership with limited liability. In other words, if a company with limited liability is sued, then the plaintiffs are suing the company, not its owners or investors. A shareholder in a limited company is not personally liable for any of the debts of the company, other than for the value of their investment in that company.
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