Which of the following statements regarding a sole proprietorship are correct? (select all that apply.) a. sources of funds for a sole proprietorship typically include personal savings, as well as raising funds from a bank or personal loans from friends and family. b. sole proprietorships are easy to set up with no paperwork required before the business can be opened. c. the sole proprietor is personally responsible for all debt of the sole proprietorship. d. one advantage of the sole proprietorship is that the survival of the firm does not depend upon just one person.

every society, in order to meet the needs of it's people, has to answer three basic questions:

- what should we produce?

- how should we produce it?

- for whom should we produce it?

this questions must be answered in order to, option b, aid in production decisions.

every country can't produce everything, no matter how rich their land is. it may be a matter of technology, resources or geographical conditions. so, these three questions must be resolved in order to get the most of the production of each land.

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