Questions: The three types of business ownership include: partnerships, corporations, and - free markets - capitalism. - sole proprietorships. - cooperatives. - limited liability corporations.

The three types of business ownership include: partnerships, corporations, and
- free markets
- capitalism.
- sole proprietorships.
- cooperatives.
- limited liability corporations.
Transcript text: The three types of business ownership include: partnerships, corporations, and - free markets - capitalism. - sole proprietorships. - cooperatives. - limited liability corporations.
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Solution

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Answer

The answer is sole proprietorships.

Explanation
Option 1: Free markets

Free markets refer to an economic system where prices for goods and services are determined by open competition between privately owned businesses. This is not a type of business ownership.

Option 2: Capitalism

Capitalism is an economic system characterized by private ownership of the means of production and operation for profit. It is not a type of business ownership but rather an overarching economic system.

Option 3: Sole proprietorships

A sole proprietorship is a type of business ownership where a single individual owns and operates the business. This is one of the three main types of business ownership, along with partnerships and corporations.

Option 4: Cooperatives

Cooperatives are organizations owned and operated by a group of individuals for their mutual benefit. While they are a form of business organization, they are not typically listed as one of the three main types of business ownership.

Option 5: Limited liability corporations

Limited liability corporations (LLCs) are a hybrid type of business structure that offers the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership. While they are a common business structure, they are not one of the three traditional types of business ownership.

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