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We talked about entrepreneurship when we introduced the four factors of production. This is a word that refers to the act of starting a business. But what kinds of business can one start? Does one have to do this alone, or can it be done with friends? If multiple people are involved, what are the logistics and legal implications? Let's get a little introduction into sole proprietorships, partnerships of various types, and franchises. Script by Matt Beat: / iammrbeat Animation by Ignacio Triana: / unraveled Watch the whole Economics playlist: http://bit.ly/ProfDaveEcon Mathematics Tutorials: http://bit.ly/ProfDaveMath American History Tutorials: http://bit.ly/ProfDaveAmericanHistory History of Drugs Videos: http://bit.ly/ProfDaveHistoryDrugs General Chemistry Tutorials: http://bit.ly/ProfDaveGenChem Classical Physics Tutorials: http://bit.ly/ProfDavePhysics1 EMAIL► [email protected] PATREON► / professordaveexplains Check out "Is This Wi-Fi Organic?", my book on disarming pseudoscience! Amazon: https://amzn.to/2HtNpVH Bookshop: https://bit.ly/39cKADM Barnes and Noble: https://bit.ly/3pUjmrn Book Depository: http://bit.ly/3aOVDlT