Which of the following lists the three types of firms in the United States from

Question

Which of the following lists the three types of firms in the United States from smallest to largest in terms of volume of sales in 2012 OPartnerships, sole proprictorships, corporaticons O Sole proprictorships, corporations, partnerships OCorporations, partnerships, sole peoprictoeships If real wape decrcases, the opportunity cost of working in the home will: O not be affected increase as long as worker productivity also rises increase only if houscholds want to maintain their standard of living docreave. increase as long as worker peoductivity decreases

Explanation / Answer

The correct choice is : - Sole proprietorship , partnership & corporation .

Explanation : - Sole proprietorship is the quickest and easiest way to set up a business operation and is the smallest in terms of the sales volume. Next comes partnership which requires two or more persons to form a partnership firm and stands second in terms of volume of sales. Corporation is the most complex form of organization and also has a high sales volume .

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The correct choice is decrease

Explanation : - The real wage rate influences the quantity of labor supplied . The higher the real wage rate, the greater is the opportunity cost of taking leisure and not working. If real wage decrease, the opportunity cost of working from home decreases.

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