Assume That You Are Starting a Business

question 40

Multiple Choice

Assume that you are starting a business.Further assume that the business is expected to grow very quickly and a great deal of capital will be needed soon.What type of business organization would you choose?

• A)Corporation
• B)General Partnership
• C)Sole proprietorship
• D)Limited partnership

Understand the conditions under which economic profits can persist in monopolies and competitive markets.

Recognize sources of monopoly power and natural monopolies.

Analyze the impact of monopolies on resource allocation and social welfare.

Understand how monopolists determine their profit-maximizing output and pricing strategies.

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Definitions:

Change-related Stress

Stress experienced as a result of adapting to new or changing circumstances or environments.

Holmes and Rahe

Refers to the Holmes and Rahe Stress Scale, a tool used to measure the stress load we carry, and predict the risk of becoming ill as a result.

Internal Conflict

A psychological struggle within the mind of an individual, arising from opposing demands or impulses.

Major Types

Principal or most significant categories or forms within any general field of study or area of interest.