The Most Common Form of Business Ownership Is The

question 31

Multiple Choice

The most common form of business ownership is the:

• A)sole proprietorship.
• B)partnership.
• C)corporation.
• D)0S-corporation.

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Definitions:

Market Failure

A situation where the allocation of goods and services by a free market is not efficient, often justifying government intervention.

Pollution

The contamination of the natural environment by harmful substances, leading to adverse health effects and environmental damage.

Market Failure

A situation where the allocation of goods and services by a free market is not efficient, often leading to a net societal welfare loss.

Capitalism

An economic system where trade, industries, and the means of production are largely or entirely privately owned and operated for profit.