Question

Until the late 18th and early 19th centuries, most organizations were relatively small and were owned and operated as sole proprietorships or__________________.

Answer 1

Until the late 18th and early 19th centuries, most organizations were relatively small and were owned and operated as sole proprietorships or partnerships.

Explanation:

• After the advent of industrialization, many individuals chose to shift to mass production of commodities.
• These individuals set up small businesses of their own with their own capital.
• The ones who could not afford to start a set up with what they had entered into partnerships.
• As there was no concept of corporations, the trend of shared ownership among more than two persons did not exist.