10. In the United States, corporations A. Dominate market transactions. B. Are o

Question

10. In the United States, corporations A. Dominate market transactions. B. Are owned by one or two people. C. Are the most common type of business firm. D. Do not follow the limited liability characteristics. 11. Which of the following is NOT viewed as a role for the U.S. government? A. Providing a legal framework for business. B. Owning the factors of production. C. Protecting consumers from exploitation. D. Protecting the environment. 12. In terms of income distribution, if a person moves from the lowest fifth of households to the highest fifth over many years, this is known as: A. Income migration. B. Income mobility C. Global migration. D. Union membership.

Explanation / Answer

10. D - do not follow the limited liability characteristics.

Corporations shield owners and shareholders from the liabilities of the company. The owners in limited liability companies are liable to the amount invested by the owners.

11. B - owning the factors of production

12. B - Income mobility

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