________ Account for the Largest Portion of All Firms; ________

question 165

Multiple Choice

________ account for the largest portion of all firms; ________ account for most of the total revenue received by businesses.

• A) Proprietorships; partnerships
• B) Proprietorships; corporations
• C) Partnerships; corporations
• D) Corporations; proprietorships

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Definitions:

American Industry

Refers to the manufacturing and economic sectors of the United States which contribute to its Gross Domestic Product (GDP).

Influence Over Price

Influence over price describes the extent to which a producer or a group of producers can determine the selling price of their goods or services in the market.

Free Enterprise System

The free enterprise system is an economic system where private businesses operate in competition and largely free of state control, based on supply and demand.

Central Planning Agency

An organization tasked with overseeing the economic planning and resource allocation in a centrally planned economy, often encompassing various industrial and service sectors.