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Apes chapter 8 and 7 outline

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Economics
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Economics:?Principles in Action C H A P T E R 8?Business Organizations C H A P T E R 8 ?Business Organizations S E C T I O N 1?Sole Proprietorships What role do sole proprietorships play in our economy? What are the advantages of a sole proprietorship? What are the disadvantages of a sole proprietorship? A sole proprietorship is a business owned and managed by a single individual. The Role of Sole Proprietorships A business organization is an establishment formed to carry on commercial enterprise. Sole proprietorships are the most common form of business organization. Most sole proprietorships are small. All together, sole proprietorships generate only about 6 percent of all United States sales. Characteristics of Proprietorships

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