Which Ownership and Management Alternative Is Simple to Form,fully Controlled

question 86

Multiple Choice

Which ownership and management alternative is simple to form,fully controlled by the owner,and subject to single taxation by the government?

• A)corporation
• B)sole proprietorship
• C)partnership
• D)franchising

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Definitions:

Price Elasticity

The measure of how much the quantity demanded of a good responds to a change in the price of that good, demonstrating the sensitivity of consumers to price changes.

Quantity Purchased

The total number of units of a product or service bought by consumers in a specified period.

Price Elasticity

The evaluation of demand's reaction to fluctuations in the price of a particular good.

Responsiveness

The degree to which a variable responds to a change in an underlying factor, often used in economic contexts to describe changes in supply, demand, price, etc.