The Dominant Form of Organization with Respect to Revenues and Net

question 37

Multiple Choice

The dominant form of organization with respect to revenues and net income is the

• A) sole proprietorship.
• B) corporation.
• C) limited partnership.
• D) partnership.

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Definitions:

Rival in Consumption

A characteristic of a good where its consumption by one person reduces its availability for another person.

Substitutes

Goods or services that can replace each other in use or consumption, where an increase in the price of one leads to an increase in demand for the other.

Nonrival in Consumption

Nonrival in Consumption describes a good where one individual's consumption does not reduce availability to others, such as a public broadcast.

Efficient Price

Price level at which the quantity demanded and supplied in a market are at equilibrium, leading to an optimal distribution of resources.