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LEGAL TYPES: The three primary types of legal firm organizations are: (1) proprietorship, (2) partnership, and (3) corporation. One primary difference between these three legal types are number of owners -- proprietorship has one, partnership has two or more (but usually a small number), and corporation can have anywhere from one or to millions. A second difference is the liability of the owners -- proprietorship and partnership owners have unlimited liability and corporation owners have limited liability. Three newer firm types include (1) limited partnership, (2) S corporation, and (3) limited liability company. Each of these three are hybrids, with characteristics of proprietorship, partnership, corporation.
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STRUCTURAL UNEMPLOYMENT Unemployment caused by a mismatch between workers' skills and the skills needed for available jobs. Structural unemployment essentially occurs because resources, especially labor, are configured (trained) for a given technology but the economy demands goods and services using another technology. Employers seek workers who have one type of skill and workers seeking employment have a different type of skill. This mismatch in skills, largely the result of technological progress, creates unemployment of the structural variety. Structural unemployment is one of four unemployment sources. The other three are cyclical unemployment, seasonal unemployment, and frictional unemployment. Frictional and structural unemployment are the two components of natural unemployment.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"If you worried about falling off the bike, you'd never get on. " -- Lance Armstrong, bicycle racer
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GDP
Gross Domestic Product
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