"Molly invested $1,000 into her sister's business. A year later her sister's business ended up failing. She was an owner. Her sister, however, had unlimited liability. When the business went under Molly lost her $1,000, but that's it. What kind of business entity was Molly involved in?"

Gerda, a real estate agent, is selling a moderately priced house in a subdivision. she knows from her uncle that the factory being built half a mile from the subdivision will be manufacturing dog food, using a process that creates a very strong odor that permeates the surrounding neighborhood. a buyer, who is unaware of the type of factory under construction, makes an offer on one of the houses gerda is selling, and within a short time, the deal goes through. what does this scenario best illustrate?

Aprimary advantage of organizing economic activity within firms is thea. ability to coordinate highly complex tasks to allow for specialized division of labor. b. low administrative costs because of reduced bureaucracy. c. eradication of the principal-agent problem. d. high-powered incentive to work as salaried employees for an existing firm.

China white was the black market selling of ivory, in which the profit was redistributed back into the trafficking of heroin.