Match the Following Characteristics with the Form of Business Entity

question 3

Multiple Choice

Match the following characteristics with the form of business entity that best describes it. Each may be used more than once.
-Owned by two or more individuals

• A)Proprietorship
• B)Partnership
• C)Corporation
• D)Limited liability company (LLC)

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Definitions:

Medallion System

A regulatory system often applied to taxis, where a finite number of medallions or permits are issued, allowing the holder to operate a taxi.

Taxicab Rides

The service provided by a vehicle licensed to transport passengers in return for payment, usually determined by a meter.

Economic Theory

A framework or set of principles explaining how economies function and how economic agents interact.

Quota Rent

The extra profit that producers can make when supply is artificially restricted by an import quota.