If You Want to Own the Business Yourself, You Might

question 36

Multiple Choice

If you want to own the business yourself, you might consider setting up as a(n) __________.

• A)partnership
• B)sole proprietorship
• C)independent owner
• D)franchisee

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Definitions:

Active Antitrust

Government policies aimed at preventing monopoly and promoting competition in markets.

Industrial Regulation

A policy mechanism where government bodies set rules, standards, and procedures that businesses must follow to ensure fair competition, protect public interests, and prevent monopolistic practices.

Marginal Cost

The incremental cost incurred by producing an extra unit of a product or service.

Average Total Cost

The sum of all production costs divided by the quantity of output produced, including both fixed and variable costs.