Answer:
The term used to describe businesses owned by a single individual is sole proprietorship's
Explanation:
A sole proprietorship, which can also be called an individual entrepreneurship, is a business or enterprise owned by only one person. The person that owns the business receives all the profits and he/she is also responsible for its debts. Moreover, the trade name of the business can be different from the real name of the owner; however, this fictitious name does not take away his/her responsibility for all the issues related to the business.
