In what type of business do the owners bear no personal financial responsibility quizlet?

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In what type of businesses do the owners bear no personal financial responsibility?
Which of the following ensures that entrepreneurs and private businesses are free to obtain and use economic resources to produce their choice of goods and services?
Which of the following is characterized by the private ownership of resources in the use of markets to coordinate and direct economic activity?
Which of the following ensures that private individuals and businesses are able to utilize property as they wish?

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In what type of businesses do the owners bear no personal financial responsibility?

A limited liability company (LLC) is a corporate structure in the United States whereby the owners are not personally liable for the company's debts or liabilities.

Which of the following ensures that entrepreneurs and private businesses are free to obtain and use economic resources to produce their choice of goods and services?

A market economy has freedom of choice and free enterprise. Private entrepreneurs are free to get and use resources and use them to produce goods and services. They are free to sell these goods and services in markets of their choice.

Which of the following is characterized by the private ownership of resources in the use of markets to coordinate and direct economic activity?

Capitalism is an economic system characterized by private ownership of the means of production, especially in the industrial sector, with labor paid only wages. Capitalism depends on the enforcement of private property rights, which provide incentives for investment in and productive use of productive capital.