Which of the Following Forms of Business Organizations Was the Least

question 55

Multiple Choice

Which of the following forms of business organizations was the least common in the United States in 2012?

• A) sole proprietorship
• B) partnership
• C) corporation
• D) nonprofit organization
• E) conglomerate

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Definitions:

Joint Profits

Are the combined earnings of two or more entities, often used to evaluate the financial outcome of a partnership or merger.

Marginal Cost

The cost added by producing one additional unit of a product or service, a crucial concept in economic decision-making and pricing strategies.

Perfectly Competitive

A market structure where many firms offer a homogeneous product, there are no barriers to entry or exit, and all firms are price takers.

Oligopolistic

Oligopolistic refers to a market structure characterized by a small number of large firms dominating the market, leading to limited competition.