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san4es73 [151]
2 years ago
6

What are the three basic types business organizations? *

Business
1 answer:
Elenna [48]2 years ago
4 0

Answer:

Sole Proprietorships, Partnership and Corporation

Explanation:

Sole proprietorships businesses are the most common and simple type of business ownership. They are owned by one person. Legally, the business and the person are considered as a single entity. The owner enjoys all the profits by themselves and suffers the losses alone.

Partnerships require two or more individuals to combine their resources, time, and effort in creating a business. Partnerships are mostly started by friends or family members with similar business objectives. A partnership is easy to forms. The firm passes its income as the income of partners.

A corporation requires the preparation of some legal documents to register. A corporation is considered a distinct entity from its owners. It enjoys commercial rights to own assets, incur expenses and liabilities, sue and be sued, and pay its tax obligations. A corporation is suited for large businesses.

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The concentration ratio for Industry M is 52%.

The concentration ratio of industry M can be determined by adding the the ratio of the output to the total output of  each of the six firms together.

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  • Ratio of firm 2's output to total output = 21,444 / 198,400 =  0.1081 = 10.81%
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Sum of the percentages = 51.72%

Please find attached a table used to answer the question. A similar question was answered here: brainly.com/question/14903886

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