Which of the following is a form of business enterprise?

Step 1: Analyze the question The question asks which option is a form of business enterprise. This means a type of business ownership or organization, such as sole proprietorship, partnership, private limited company, public limited company, cooperative society, or public corporation.

Step 2: Explain the concept Forms of business enterprise are classified by ownership and legal structure:

• Sole proprietorship: owned by one person
• Partnership: owned by 2 to 20 persons who share profits and losses
• Limited liability companies: private and public
• Cooperative societies: owned by members
• Public corporations: owned by government

Step 3: Evaluate each option

• A. Cartel: An association of producers who agree to control price or output (e.g., OPEC). It is a collusive arrangement, not a form of business ownership.
• B. Entrepreneurship: This is a factor of production, the act of organizing and risk-taking, not a form of business.
• C. Partnership: A recognized form of business ownership, where two or more people jointly own and run a business. ✔
• D. Stock exchange: A market where shares and securities are traded, so it is a financial institution.
• E. Supermarket: A type of retail outlet, which is a kind of business, but not a legal form of business enterprise.

Step 4: Answer The correct option is C. Partnership.

Tip: When you see "form of business enterprise," think of ownership types: sole trader, partnership, company, cooperative, public corporation. Options that describe a market, a shop type, or a factor of production are distractors.