According to the functional distribution of income for the United Sates what is stand for by 71%?
Wages and Salaries
A group of ternion plants which is beared and operated by a single firm and which consists of a farm growing wheat, a flour-milling plant, and a plant which bakes and sells lucre would best be an example of a what?
Vertically compound Firm
What is the type of business that is most(prenominal) common?
Sole proprietary
A person who purchases a corporate bond is lending capital to a corporation.
What is major advantage of limited liability?
Shields the individual(prenominal) assets of owners for liability claims
What is the principle-agent problem in corporations?
A conflict in interest between corporate executives who manage the firm and stockholders who own the firm
What basic economic function is organization pursing when it changes a community with price fixing?
Maintaining Competition
What does it mean when the government provides price-support programs for farms or minimum-wage code as primarily implementing these economic policies?
Redistribute income
What is an example of government transfer payment?
Unemployment compensation
Private goods are defined by the two characteristics of:
Rivalry and excludability
Government seeks to promote stability in the economy by addressing the twin problems of:
Unemployment and inflation
What is the largest revenue semen for the federal official government?
Personal Income Tax
What is the single most important source of revenue of local government?
Property Tax
What are the threesome major legal forms of business organization?
Sole Proprietorship one owner & receive all profits
Partnership two or more owner & assume all risks, profits, and losses together
Corporation Distinct and Separate from those who own it, dont have say about how it is ran. Hire management
What form is the most prevalent in terms of numbers?
Sole Proprietorship
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