Which of the Following Is NOT an ADVANTAGE of a Sole

question 70

Multiple Choice

Which of the following is NOT an ADVANTAGE of a sole proprietorship?

• A)The owner receiving all the after-tax profit
• B)Limited liability
• C)Quick decision making
• D)It is the simplest and least complicated form of business organization.

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Definitions:

Downward-sloping

A description of a line or curve on a graph that represents a decrease in one variable in response to an increase in another variable, commonly used to describe demand curves in economics.

Demand Curve

A visual chart demonstrating the link between an item's price and the amount consumers are willing to buy at those prices.

Purely Competitive Industry

A market structure characterized by many sellers offering identical products, where no single seller can influence the market price.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good that consumers are willing to purchase at different prices.