Answer this

profit motive

"A rational person desires to derive the greatest benefit with the least amount of sacrifice". This assumption supports a theory known as the:

Partnership

A business organized with two or more owners that is not legally separate from its owner is called a:

Sole Proprietorship

A business owned by a single individual is called a:

Corporation

A business which is legally considered a separate entity from its owner is a:

A limited life

An advantage for the owners of corporations that neither a partnership or sole proprietorship exhibits is:

natural resources

Land and the things that come from the land, such as timber, mineral deposits, oil deposits, and water, are examples of the factor of production known as:

Entrepreneurship

The activity of people in accepting the opportunities and risks of starting and running businesses describes a factor of production as:

Capital

The buildings, machinery, and tools used to produce goods and services is a description of the factor of production known as:

Sole Proprietorship

The form of business organization considered easy and inexpensive to both set up and dissolve is a:

Stockholder

The general name for anyone to whom a company owes a responsibility is a:

Labor

The mental and physical efforts of all workers is a description of the factor of production known as:

Gross Profit

When a business subtracts only the cost of a product from its selling price, the difference is called:

Fewer government regulations

Which of the following is NOT an advantage of the corporate form of business organization?

Unlimited liability

Which of the following is applicable to BOTH sole proprietorships and partnership?

Natural resources

Which of the four factors of production is replaced by government planning and control in a planned economy?