00:01
For this question, what to explain the relationship between the terms in each of the pairs.
00:08
Now, the first one is business, organization, and sole proprietorship.
00:15
So we're going to start with that one.
00:17
A business organization were to explain the relationship between them.
00:28
Now, our business organization is basically like an enterprise that produces, an organization is an enterprise that produces either goods, or they provide services.
00:39
So one way or the other, they're benefiting consumers, and consumers can, you know, patronize them.
00:46
So a business organization is an enterprise that produces goods or provides services.
01:01
It has to do one of them.
01:06
Now, the most popular type of business organization that we know is the sole proprietorship, right? so the relationship between business organization and the sole proprietorship is that a sole proprietorship is a type of business organization and it is owned by one person and managed by one person...