Unit 4 Assignment: Business Organizations

Part One

•List and describe the three types of business organizations.

•What are the advantages and disadvantages of each of the types of business organizations?

•If you were to start a new business, what type of business organization would you form and the reason why you would choose that particular one.

Part Two

A firm earns profit when its total revenue is greater than its total cost. This means that there are two possible ways to earn more profit: (1) increase total revenue, or (2) decrease total cost. Write a paragraph in which you either defend or refute the following statement using facts and information you learned in this section of the course:

Increasing total revenue is the easier way to earn more profit.

Leave a Reply