A Business Structure in Which the Business Owners Share the Management

question 72

Multiple Choice

A business structure in which the business owners share the management and all of the risk of a business is called a

• A) Sole proprietorship
• B) General partnership
• C) Limited partnership
• D) Corporation

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Definitions:

Centre-Periphery Trade

The exchange of goods and services between central, more economically developed areas and peripheral, less developed areas, influencing economic dynamics.

Global Markets

The international trading landscape where goods, services, currencies, and information are exchanged across national borders.

Globalization

The process of integration and interaction among people, companies, and governments worldwide, leading to the global exchange of products, ideas, and cultural practices.

Centre-Periphery Hierarchy

A social or organizational structure where power or importance is concentrated in the center, diminishing outward to the periphery.