Someone who is willing to take risks in order to make a profit is known as an −

•authorized by law to act as a legal person • liability limited to investment • owners share profits

Sharing resources and risks are advantages to a −

In a free enterprise system, a person who starts and runs a new business is −

Robert and Sheila started a computer repair business. Both parties contributed an equal amount of money and are assuming equal risk. What type of business did they form?

A business organization that is solely run by one individual who assumes all risks and earns all of the profits can BEST be described as a −

Reinvesting tax dollars into public goods and services shows one aspect of the government’s involvement in the −

In our economy, individuals (households) do all except −

Businesses most frequently participate in the economic circular flow of resources by −

When the government uses tax dollars to purchase products and/or services from the public, they are participating in what economists consider the −

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