Define the Legal forms of businesses
Define the Legal forms of businesses?
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a. Sole proprietorship: a business owned by a single individual.
b. Partnership: two or more individuals own and operate the business in a partnership agreement.
c. Corporation: a legal entity distinct from its individual owners. The organization acts as “legal person.”
“In the corn market, demand often exceeds supply and supply sometimes exceeds demand.” “The price of corn rises and falls in response to changes in supply and demand.” Among these 2 statements used correctly which in the terms “supply&rdq
Distinguish between the resource market and product market in the circular flow model. In what way are businesses and households both sellers and buyers in this model? What are the flows in the circular flow model?
Question: (a) Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.)
Explain the law of supply. Why does the supply curve slope upward?
Give a brief introduction of the term Operating Leverage?
Illustrate a summary of what can cause a decrease in demand?
Explain: “Goods and services are scarce because resources are scarce.” Analyze: “It is the nature of all economic problems that absolute solutions are denied us.”
Question: a. In the short-run, it is easier for a country to maintain a peg that undervalues a currency (relative to the equilibrium market rate) than it is to maintain a peg that overvalues the currency (relative
Give a brief introduction of the term combined leverage? And in what manner it is calculated?
What are the dependencies in U.S. and World Trade?
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