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 describe the term explicit cost and implicit cost?
Illustrate how Microeconomics looks at specific economic units?
Normal resident: The persons or an institution who lives in a country and whose centre of interest lies in that country is termed as a normal resident of that country.
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What are the merits of speciality in the use of human and material resources?
Question: In June 2005, a Big Mac sold for 6,000 pesos in Colombia and $3.00 in the United States. The exchange rate in June 2005 was 2,300 pesos per US Dollar. So, on Big Mac purchasing power parity gr
Question: To determine the real exchange rate, what two pieces of information do you need in addition to the nominal exchange rate? Answer: Q : Innate psychological attributes of 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
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
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