The major advantage of the corporation is
a. limited liability for owners.
b. greater profit incentive than the other forms of business organization.
c. lower taxes for owners, who are taxed only once.
d. ability of owners to have hands-on management of the firm.
a
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When business firms get to be too big, they are suffering from ____________________.
Fill in the blank(s) with the appropriate word(s).
If significant barriers to entry exist in a market, then the market is best described through the model of perfect competition
a. True b. False Indicate whether the statement is true or false
If the price of housing (which accounts for 40 percent of total expenditures in the CPI basket), rises by 10 percent in one year while the prices of all other goods rises by 27 percent, by how much will the CPI rise?
A. 234 percent B. 10 percent C. 27 percent D. 20 percent
A cross-price elasticity value that is positive will indicate goods that are substitutes.
a. true b. false