Enlightenment Economic Thought Included

question 64

Multiple Choice

Enlightenment economic thought included

• A) acceptance of self-interest as something good.
• B) praise for entrepreneurship and free markets unencumbered by governments.
• C) the inevitability of progress in capitalism.
• D) the belief that the laws of economics could be discovered.
• E) all of the above

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Definitions:

C Corporations

A legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity.

Unlimited Life

Refers to corporations or legal entities that continue to exist indefinitely until dissolution, unlike natural persons who have a finite lifespan.

Double Taxation

The imposition of taxes on the same income, asset, or financial transaction at two different levels of government.

Accounting

A systematic process of recording, summarizing, and reporting the financial transactions of a business.