Reed, Isaiah, Nia, and Taylor are all lawyers. After several years of working for big firms, they decide to pool their resources and start their own law practice together. The four of them will make all their business decisions together and will share all of the profits and financial risk. Their new law firm is an example of which business organization? * O Sole Proprietorship O Franchise O Partnership Corporation

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter10: Monopolistic Competition And Oligopoly
Section: Chapter Questions
Problem 18CTQ: When OPEC raised the price of oil dramatically in the mid-1970s, experts said it was unlikely that...
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Reed, Isaiah, Nia, and Taylor are all lawyers. After several years of working
for big firms, they decide to pool their resources and start their own law
practice together. The four of them will make all their business decisions
together and will share all of the profits and financial risk. Their new law
firm is an example of which business organization?
O Sole Proprietorship
O Franchise
O Partnership
Corporation
Transcribed Image Text:Reed, Isaiah, Nia, and Taylor are all lawyers. After several years of working for big firms, they decide to pool their resources and start their own law practice together. The four of them will make all their business decisions together and will share all of the profits and financial risk. Their new law firm is an example of which business organization? O Sole Proprietorship O Franchise O Partnership Corporation
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A business organization is an entity aimed at carrying on commercial enterprise by providing goods or services, to meet needs of the customers. 

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