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A form of business organization that is authorized by law to act as a legal entity regardless of the number of owners. Owners share the profits. Owner liability is limited to the amount of their investment. Is known as?
Command Economy
Corporation
Mixed Economy
Partnership
Consumer Sovereignty
Traditional Economy
Proprietorship
Profit
A form of business organization with two or more owners who share the risks and the profits. Is known as?
Command Economy
Corporation
Mixed Economy
Partnership
Consumer Sovereignty
Traditional Economy
Proprietorship
Profit
Economic decisions are based on custom and historical precedent.
Command Economy
Corporation
Mixed Economy
Partnership
Consumer Sovereignty
Traditional Economy
Proprietorship
Profit
A form of business organization with one owner who takes all the risks and all the profits. Is known as?
Command Economy
Corporation
Mixed Economy
Partnership
Consumer Sovereignty
Traditional Economy
Proprietorship
Profit
Through their purchases, consumers determine what goods and services will be produced. Is known as?
Command Economy
Corporation
Mixed Economy
Partnership
Consumer Sovereignty
Traditional Economy
Proprietorship
Profit
Individual and businesses are owners and decision makers for the private sector. Government is owner and decision maker for the public sector. Most countries today have this type of economy. Is known as?
Command Economy
Corporation
Mixed Economy
Partnership
Consumer Sovereignty
Traditional Economy
Proprietorship
Profit
Earnings after all expenses have been paid. Is known as?
Command Economy
Corporation
Mixed Economy
Partnership
Consumer Sovereignty
Traditional Economy
Proprietorship
Profit
Central ownership (usually by government) of property/resources, centrally-planned economy, and lack of consumer choice. Is known as?
Command Economy
Corporation
Mixed Economy
Partnership
Consumer Sovereignty
Traditional Economy
Proprietorship
Profit
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