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.”
Briefly state the pros and cons of Partnership?
Why does a demand curve slope downward?
Contrast a vertically integrated firm, a horizontally integrated firm, and a conglomerate?
As illustrated by Adam Smith that there are two innate psychological attributes of humans. One is which people have a powerful wish to better their individual circumstances. The other is as human beings so we are: (1) more interested
Conception of the “Invisible Hand” by Adam Smith relies on mechanisms like those as underpin: (1) William Stanley Jevons’ “sunspot” theory of business cycles. (2) the biological concept of Homeostasis. (3
Illustrate Economics for citizenship?
Mutually beneficial exchange is probable whenever relative production costs vary previous to trade, is a manner to state the law of: (1) Positive profits from trade. (2) Comparative benefit. (3) Specialization and Division. (4) Purchasing power parity
Describe the meaning of the term “invisible hand.”
Use two market diagrams to explain how an increase in state subsidies to public colleges might affect tuition and enrollments in both public and private colleges.
Illustrate the 3rd the government redistributes income?
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