Chapter+Outlines+6-

How money is made
The video telling viewers about how money is made shows how difficult and timely it is to make money. The way the money is made is too make it hard for fake money to be made. Everything is very precise and handmade. They use special materials to make money and create the markings on it. It cost 4 cents to make a dollar bill. The paper is considered expensive. Its a special type of paper that cannot be copied.

Virtual Money Museum
The 1800s organizations could make their own money. There was once 30 thousand different currencies. The banks used to not have enough money to give people when they deposited. In 1913, the federal reserve act was made to provide a safer and more monitored banking system.

How Euro Works
For two different currencies there are two exchange rates.You can divide one by either rate to find the other rate this is because rates are reciprocals of eachother. The different exchange rates are interesting because some countries money are worth so little compared to other countries money. I think that if the world actually does have one currency then some countries such as the ones that their money isn't worth alot will struggle.

I feel that money makes the world go round. Without money there would be no order and i feel like everyone wouldn't value material things as much. Though i feel like money makes the world go round, i think money is an evil thing and doesn't allow people to be equal. Money is both a good and bad thing. It does good for the world but also can get to a persons head. People feel like the more money they have the more power and respect they gain. That's not true but it creates jealousy of having what others dont. I think money is the reason there is crime in the world.

=Chapter 8 Outline: Business Ownership and Entrepreneurship=

Types of Business Ownership:

 * **Sole Proprietorships**: one person owns business
 * **Partnerships**: two or more people own business
 * **Corporations**: many people in which the law treats as one person own the business
 * **Subchapter S corporation**s: taxed like a partnership, owner pay taxes from personal earnings
 * **Limited liability companies**: owner and managers enjoy limited liability and some tax benefits
 * **Multinational corporations**: organization that operates in more than one country

A **mode of entry** is the method a company uses to sell products in another country. Typical modes of entry include: **//Indirect exporting, direct exporting, turnkey projects, licensing, franchising, joint ventures, strategic alliances, wholly owned subsidiaries,//** and //**foreign direct investments**.//


 * Entrepreneurship**: the process of starting up a new company or business.
 * Entrepreneur**: a person who starts a new business.

When a business beings, one of four results occur:
 * 1) Company survives but stays small
 * 2) Company grows and becomes a major corporation
 * 3) Company is purchased and merges with another company
 * 4) Company fails **//(Most common result)//**

Entrepreneurship Advantages:
 * Self-direction and self-reliance
 * Flexibility
 * Potential profits


 * Intrapreneurship**: the process of starting a new business that spun off from an existing business.
 * Global Entrepreneurship**: The process of selling new products, starting a new operating division, or starting up a new company in another country.