The Decision About Whether a Firm in Each Particular Industry

question 362

True/False

The decision about whether a firm in each particular industry must operate as a proprietorship, partnership, or corporation is made by the Internal Revenue Service.

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Definitions:

Stimulus-Response

A model or theory in psychology and marketing that describes how an individual or customer reacts to a stimulus (such as an advertisement) with a particular response.

Model

A representation, often simplified, that is used to demonstrate or explain complex processes, structures, or concepts.

Buyer Behavior

The actions and decision-making processes of individuals or groups as they purchase goods or services.

Organizational Buying Process

The problem-solving procedure the firm uses to meet its goals and objectives as it relates to making purchases.