The Three Major Legal Forms of Business Entity Are the Sole

question 30

Short Answer

The three major legal forms of business entity are the sole proprietorship, the partnership, and the________.

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Definitions:

Substitutes

Products or services that can be used in place of each other, where the presence of one reduces the demand for another.

Price Capital

The valuation of capital assets based on their cost or market value, contributing to the overall price level of investments.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various price levels at a given period.

Labor

The effort by humans to produce goods or services in the economy.