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Explain what is meant to categorize business associations? Explain the three broad categories of business associations and give examples of each? Define business law and

Explain what is meant to categorize business associations? Explain the three broad categories of business associations and give examples of each?

Define business law and list and give examples of the sources of business law.

Explain the concept of incorporation and outline the benefits and drawbacks of incorporation.

Compare and contrast a capitalist and a socialist economic system.

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