_____ Is the Only Type of Firm Where It Is

question 31

Multiple Choice

_____ is the only type of firm where it is possible for a person to hold all of the information that matters for all types of decisions.

• A)Corporation
• B)A firm where decision-making is centralized
• C)Sole proprietorship
• D)A firm where there is separation of ownership and management

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Definitions:

Adaptation

The process by which organisms adjust to changes in their environment to survive and reproduce.

Modification

The act of changing something or adjusting it to improve it or to make it more suitable for a particular purpose.

Unconscious Processing

Cognitive operations that occur without conscious awareness, influencing perceptions, thoughts, and behaviors.

Equilibration

Piaget’s term for the tendency to seek a stable balance among cognitive elements; achieved through a balance between assimilation and accommodation.