A Sole Proprietorship Is

question 230

Multiple Choice

A sole proprietorship is

• A)the easiest type of business to set up.
• B)the most difficult type of business to set up.
• C)the most expensive type of business to set up.
• D)the least profitable type of business to set up.

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Definitions:

Demand Schedule

A chart displaying the amount of a product or service buyers are prepared and capable of buying at different price levels.

Total Revenue

The total amount of money generated by the sale of goods or services related to the company's primary operations.

Total Revenue

The complete sum of funds a business acquires from sales or services rendered over a specific timeframe.

Price-Elasticity Coefficient

A measure indicating how much the quantity demanded of a good responds to a change in its price, indicating its sensitivity.