Which Type of Business Organization Has the Respective Rights and Privileges

question 52

Multiple Choice

Which type of business organization has the respective rights and privileges of a legal person?

• A)Sole proprietorship
• B)General partnership
• C)Limited partnership
• D)Corporation
• E)Limited liability company

Comprehend the principles of excludability and rivalry in the context of goods consumption.

Analyze the role and effects of majority voting and the paradox of voting in political decisions.

Understand the principal-agent problem in both private and public sectors.

Appreciate the nuances of deregulation and its implications for industry and public policy.

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Definitions:

Means of Production

In Marxist theory, the physical, non-human inputs used for the production of economic value, such as factories, machines, and tools.

Cultural Differentialism

The perspective that cultures are distinct and unique, with significant differences that should be celebrated and preserved rather than assimilated.

Cultural Convergence

The theory that globalization will result in cultures becoming more similar over time, due to shared technology, media, and communication practices.

Cultural Hybridization

The process whereby cultural elements blend to create a new, distinct cultural phenomenon, often occurring in societies experiencing globalization.