Market Structures and Business Organizations Review

Which of the following is NOT a disadvantage of a sole proprietorship?

In which market structure does the individual company have the LEAST market power?

Companies allowed to operate as monopolies under strict government regulation are known as

One weakness of the sole proprietorship is that the

The portion of corporate profits paid out to stockholders is

One advantage enjoyed by a corporation is

A license that gives an inventor the exclusive right to sell the product for a limited time is

All of the following are strengths of the partnership business structure EXCEPT

What is the most complex form of business organization?

When all partners are responsible for the management and financial obligations of the business

Condition where the cost of production decreases as the company gets larger/increases output is

A formal contract to repay borrowed money with interest at fixed intervals is

Market structure where barriers to entry are so high it's almost impossible to enter the market

What is the only thing that limits a monopoly's control over price/market power?

Which is NOT a benefit of competition?

Which is one of the two specific advantages of forming a partnership over a sole proprietorship

The most common business structure in the United States is the

A market structure in which a few large firms dominate the market is called

A business owned and managed by a single individual is called a

The legally bound obligation to pay debts is called

The market structure characterized by many firms making similar, but differentiated products

A certificate of ownership in a corporation is

One way to know if a company is part of a monopoly market structure is if the product is

The combination of two or more firms competing in the same market with the same good or service

In monopolistic competition, the product is _, while in perfect competition, it is_

Which is the most complex market structure?

Who owns a corporation?