Examlex
Which of the following is a major draw-back to sole proprietorships?
Buying Behavior
The decision processes and acts of individuals involved in buying and using products.
Opportunity Cost
The cost of an alternative that must be forgone as a result of choosing another option, representing the benefits that could have been received by taking a different path.
Free Lunch
An expression indicating that obtaining goods or services without cost or effort is impossible in economic terms, as there's always a trade-off.
Economic Theory
An organized set of concepts and principles that aims to explain how economies function and to provide a framework for economic policy decisions.
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