A Business Owned by One Person, Who Has Complete Control

question 3

Multiple Choice

A business owned by one person, who has complete control over management and profits, is known as a .

• A) public corporation
• B) general partnership
• C) sole proprietorship
• D) limited liability company

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Definitions:

Motivate

To provide reasons, encouragement, or incentives for individuals to behave in a desired way or even pursue certain goals.

Self-actualization

A psychological concept referring to the realization or fulfilment of one's talents and potentialities, considered as a drive or need present in everyone.

Maslow

Refers to Abraham Maslow, a psychologist best known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs in priority.

Herzberg

Refers to Frederick Herzberg's Two-Factor Theory, which posits that job satisfaction and dissatisfaction arise from two different sets of factors—hygiene factors and motivators.