Legal, Social, and Economic Environment of Business American
InterContinental University Legal, Social, and Economic
Environment of Business p.1 The 3 prong power cord was invented
in the 70’s. It was made to be used for high powered appliances.
Before there was a 3 prong power cord there was the “2 prong
power cord that has safety issue.” (Busn105 Scenario) This
invention was made for the safety of people and their household.
There are a lot of advantages and disadvantage being in a
partnership. When in a partnership the company you and your
partner have a lot of decisions to agree on. Legal, Social, and
Economic Environment of Business p.2 A sole proprietorship is
the most common type of small business in the United States as
of 2010, according to the All Business website. A sole
proprietorship is a type of small business that often is a one-
person operation, although some also include a handful of
employees. A disadvantage of sole proprietorship is that there
is no legal separation between business and per