Examlex
Explain what is meant by representative democracy.
Business Organization
A legal entity formed to conduct business activities, ranging from sole proprietorships to corporations, structured according to law and operational needs.
Household Income
The combined gross income of all members of a household, encompassing wages, salaries, benefits, and other income sources before taxes.
Dividends
Payments made by a corporation to its shareholder members, usually derived from company profits.
Services
Intangible products provided to consumers, such as healthcare, education, banking, and entertainment, which do not result in the ownership of any physical goods.
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