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If the income elasticity of demand for a good is negative, the good is an inferior good.
Joint Stock Company
A partnership agreement in which company members hold transferable shares, whereas all the goods of the company are held in the names of the partners.
Partnership Agreement
A legal document that specifies the rights, responsibilities, and profit and loss distribution among business partners.
Transferable Shares
Shares of a company's stock that can be sold or transferred by the shareholder to another party without restrictions.
Partners
Individuals or entities engaged in business together under a formal agreement to share profits and losses.
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