Final answer:
Marietta is an entrepreneur, characterized by her ability to inspire others with her vision for a product. As for Berkeley, she must assess different business structures like sole proprietorship, partnership, corporation, or LLC to decide which suits her needs best, considering factors such as control, liability, and regulations.
Step-by-step explanation:
Marietta is an entrepreneur. This description fits well with someone who is passionate about their idea, works to convince others of its value, and is able to inspire a team to help develop it. Entrepreneurs have key traits, such as being visionary, persuasive, and capable of rallying others to their cause.
For Berkeley’s new retail business selling local products to tourists, the form of business structure she should choose depends on various factors, including liability concerns, tax implications, and the level of control she wishes to maintain. Some common structures include sole proprietorship, partnership, corporation, and Limited Liability Company (LLC). Each of these has distinct advantages and disadvantages that should be carefully considered.
A sole proprietorship is the simplest form and gives Berkeley full control, but also full personal liability for the business's debts. A partnership would allow her to share the responsibility and resources with someone else but would also involve shared decision-making. A corporation or an LLC could provide liability protection, separating her personal assets from the business's liabilities, but come with more regulations and potentially higher costs.