ECON110_Exam2 - Microeconomics Exam#2 Exam#2 1 If I were to graduate and begin my own business I would organize the business as a sole proprietorship or

ECON110_Exam2 - Microeconomics Exam#2 Exam#2 1 If I were to...

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Microeconomics Exam #2 Exam #2 1. If I were to graduate and begin my own business I would organize the business as a sole proprietorship or partnership depending on the type of business. If I were to being my own accounting firm, I would organize it as a limited partnership. These businesses are relatively easy and inexpensive to begin and there are opportunities for shared responsibility and more insight and talents taking some weight off of my shoulders. Although I wouldn’t have complete control over my business, having to share decisions and profits I feel that if structured, fair, partnership agreements were established all would work well. 3. The United States has comparative advantages in most services, financial, agricultural and high tech manufacturing. One of these products can be Apples IPhone or IPads. Production of this impacts domestic and foreign business and affects both labor and economic growth. Many of the pieces in these smart devices are made in foreign countries,
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