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Identify and Give the Basic Characteristics of Each of the Following

question 74

Essay

Identify and give the basic characteristics of each of the following specialized types of corporations.
a. Professional corporations
b. Public corporations
c. Nonprofit corporations


Definitions:

Consumer Desire

The want for goods, services, or experiences that can provide satisfaction or utility to the consumer.

Profits of Industry

The total earnings of companies within a specific sector after subtracting costs and expenses.

Resources Employed

Refers to the allocation and utilization of resources such as labor, capital, and materials to produce goods and services.

Output of Industry

The total amount of goods and services produced by an industry or sector within a specific period, often used to gauge economic health and productivity.

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