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.”
Explain by giving example of an absolute advantage in production of two products?
Illustrate major economic flows that link U.S. with nations. Provide an example to illustrate each flow. Explain the relationship between the top and bottom flows.
Why Trade barriers hurt American consumers?
Elucidate types of unemployment?
Enumerate and briefly discuss the main economic functions of government. Which of these functions do you think is the most controversial? Why?
Explain about Market Structures briefly.
David Hume, who said about money such as “Tis none of the wheels of operate. Tis the oil’,” exposed a main error within mercantilism through explaining what is currently considered to as the: (w) quantity theory of money. (x) price l
Explain of the law of demand?
Explain how the Circular Flow Model for a Market-Oriented System?
Illustrate the several determinants of demand besides price which affect demand?
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