Edmentum, inc. (us)

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e business firms: mastery test x
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ronald is the sole owner of a fast food store. over the past six months, his sales have fallen and the store has been running at a loss as a result of a
popular fast food chain outlet opening in the area. friends and relatives who lent ronald money to open the store want him to sell his personal property
in order to repay those loans. what ownership category of business is ronald in?
o a.
limited partnership
ob.
c.
corporation
proprietorship
od.
cooperative organization
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1. which one of the following would be an example of a supply-side market failure? a. a gas station is slowly leaking diesel fuel from its underground tanks, and after the leak is discovered, the business immediately cleans up the pollution at its own expense. b. a gas station is slowly leaking diesel fuel from its underground tanks, but the state uses taxpayer money to clean up the pollution rather than requiring the business to pay. c. your business wants to attract repeat customers by putting on a customer-appreciation picnic at a public park, but you decide not to because you couldn't prevent noncustomers from consuming the food and entertainment you provided. d. everyone rushes to the local retail outlet at midnight on the day of the release of a new video game console, and the store runs out before everyone is able to buy one.