Which of the Following Is a Major Advantage of the Sole

question 144

Multiple Choice

Which of the following is a major advantage of the sole proprietorship?

• A)separation of ownership and control
• B)limited liability for business debt
• C)transferability of ownership and firm continuity over time
• D)ease of start-up
• E)ease of obtaining financing

Comprehend the reasons behind government intervention in providing public goods.

Identify and explain externalities and their effects on market outcomes.

Understand the principle of economic efficiency and its application in decision-making.

Recognize the role of information in consumer decision-making and the value of brands.

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Definitions:

Industrial Relations

The study of labor-management relations, including the negotiation of wages, work conditions, union activities, and the roles of government policies on the labor market.

Supreme Court Doctrine

Fundamental principles or policies established through the rulings and decisions of the Supreme Court.

Distributive Bargaining

A negotiation strategy in which one party's gain is directly related to the other party's loss, focusing on dividing a fixed amount of resources.

Collective Bargaining Agreement

A written contract between an employer and a union representing the employees, detailing the terms of employment, wages, and workplace conditions.