TRUE or FALSE??? HELP!!
1: Market economies generally levy lower taxes than other types of economies.
2: A market economy offers individuals the right to acquire, own, use, and transfer property.
3: Consumer sovereignty means that business preferences decide which goods and services will be produced and in what quantity.
4: Market-based economies allow producers to sell any kinds of goods they want (as long as they are legal) and to sell them at the most profitable price.
5: Competition is created when one producer offer the same kind of product in a market.
6: The location of a business depends on factors such as availability of resources, connectivity to markets, and availability of infrastructure.
7: If the stock is sold privatley, it will be listed and traded in the stock market, which is where stocks of publicly held companies are issued and traded.
8: Here are some advantages of a partnership:
Each partner investing money will increase the financial capital of the business.
Partners can share responsibilities. The business can benefit from the varied skills of its partners.
9: Decorporation is the legal declaration of a business entity as being separate from its owners.
10: An LLC is taxed like a partnership, but this business structure does not protect owners from personal liability as a corporation does.
