The Three Main Types of Business Entities Used in Modern

question 43

Short Answer

The three main types of business entities used in modern society are the sole trader,the partnership and the _____________.

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Definitions:

Self-Interest

An individual's personal gain or advantage, often motivating their actions and decision-making processes.

Egoism

A theory that suggests individuals should act in a way that is most beneficial to themselves, prioritizing their own interests.

Teleological Philosophies

Ethical theories focused on the outcomes or goals of actions to determine their morality, essentially aligning with consequentialism but with broader applications.

Consequentialism

An ethical theory that judges whether something is right or wrong based on the consequences of the actions.