Jason and jeanette are starting their business as a partnership along with eight other friends. they should understand that this form of business is plagued with which of the following disadvantages?

Unlimited Liability

Explanation:

Jason, Jeanette, and their eight other friends are forming an unlimited liability corporation, which exist in a few Canadian provinces (Alberta, Nova Scotia, and British Columbia).

In unlimited liablity corporations, as the name implies, partners have unlimited liability in case of bankruptcy or default. This means that if the company fails, partners do not only provide their capital contributions, but also their personal wealth. (for example, their houses, cars, appliances, etc).

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know