Joey and His Partners Have Started a Corporation in North

question 5

Multiple Choice

Joey and his partners have started a corporation in North Dakota. They may decide to get it incorporated in Illinois if:

• A) incorporation fees are low even if incorporation taxes are very high.
• B) shareholders can actively participate in the management.
• C) incorporation fees and taxes are lower, and there is minimal shareholder interference.
• D) promoters and shareholders are barred from interfering.

---

Definitions:

Dominant Firms

Are companies that have a major share of the market sales, setting them apart from their competitors.

Creative Destruction

A concept in economics introduced by Joseph Schumpeter, referring to the process in which technological progress and innovation lead to the demise of outdated industries and economic structures, making way for new ones.

Dominant Firms

Companies that have a major proportion of market share and can influence market conditions and prices.

New Products

Goods or services that have been recently developed, introduced to the market, or significantly improved to meet consumer needs or open new markets.