Illustrate the advantage and disadvantage of Partnership
Illustrate the advantage and disadvantage of Partnership?
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Advantages: easy to organize; greater specialization; better access to financial resources than proprietorships.
Disadvantages: some of the same shortcomings of the proprietorship; possible difficulties in sharing management responsibilities; still limited financial resources; problems if one of the partners leaves; still unlimited liabilities.
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Over the long-run the speculators activities are tend to: (1) decrease the volatility of prices. (2) attract legal attention and result in imprisonment. (3) increase the level and volatility of prices both. (4) yield tremendous profits and raise costs
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Nature and Scope of Economics: Introduction Economics is a social science that
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