Partnerships Through Which Two or More Businesses Combine to Undertake

question 60

Multiple Choice

Partnerships through which two or more businesses combine to undertake a specific economic activity is called

• A)corporations.
• B)sole proprietorships.
• C)joint ventures.
• D)S-corporations.

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Definitions:

Negative Income Elasticity

A situation where demand for a good decreases as consumer income rises, often associated with inferior goods.

Bargain Brand Noodles

Low-cost noodle brands that offer savings compared to mainstream or premium brands without compromising much on quality.

Responsiveness

The ability of a system or organization to react quickly and positively to changes or requests.

Quantity

The amount or number of a material or immaterial good that is considered disposable or usable.