Name the company in which the liability of the shareholders is limited to the amount of their shares ?
Correct answer: A. Limited company
- A. Limited company
- B. Incorporation
- C. Cooperative
- D. Corporation
Explanation
In a limited company, each shareholder's liability is restricted to the unpaid amount on their shares or the amount they agreed to contribute. Personal assets are generally not liable for the company's debts.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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