Stephen Decides His Business Will Begin Staying Open Until 7

question 161

Multiple Choice

Stephen decides his business will begin staying open until 7 p.m.instead of 6 p.m.The next day, the shop stays open until 7 p.m.This environment of flexibility to quickly change is characteristic of what form of business organisation?

• A) Corporation
• B) Partnership
• C) S-corporation
• D) Flexible partnership
• E) Sole trader

---

Definitions:

Demand Curve

A graph showing the relationship between the quantity of a good or service that consumers are willing to buy and its price.

Price

The pecuniary sum needed, anticipated, or disbursed for purchasing something.

Demand Curve

A Demand Curve illustrates how the quantity demanded of a good or service varies with its price, typically showing an inverse relationship.

Quantity Demanded

The overall volume of a product or service that individuals are inclined and financially able to acquire at a determined price.