The most numerous forms of business ownership in the United States is the________________?
Correct answer: D. sole proprietorship
- A. partnership
- B. subchapter S corporation
- C. sole survivorship
- D. sole proprietorship
Explanation
A sole proprietorship is owned and operated by one person and is the most numerous form of business ownership in the United States. Corporations may generate more revenue, but they are fewer in number than sole proprietorships.
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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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