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Author Question: Describe the three main categories of firms. What will be an ideal ... (Read 110 times)

saliriagwu

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on: Jun 29, 2018
Describe the three main categories of firms.
 
  What will be an ideal response?

Question 2

The largest component of spending in GDP is
 
  A) government spending. B) net export spending.
  C) investment spending. D) consumption spending.


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bitingbit

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The three main types of firms are sole proprietorships, where the firm is owned by a single person, partnerships, where the firm is owned by two or more persons, and corporations, where the firm is a legal form of business that provides owners with protection from losing more that their investment in the firm should the business fail.

Answer to Question 2

D


saliriagwu

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

momolu

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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