Mike and Steve graduate from law school together and open a law practice in Michigan. They are co-owners of the business, share business profits and have joint control over its operation. Given only these facts, the business organization of their law practice is a: a) a partnership
b) a joint venture
c) a sole proprietorship for Steve and a sole proprietorship for Mike, exclusively
d) a limited liability corporation

a) a partnership

Explanation:

-A partnership  is when two or more parties share a business operation and its profits.

-A joint venture  is when two or more parties make an agreement to share their resources to be able to reach a specific goal.

-A sole proprietorship is when one person owns a business, takes all the profits and has an unlimited responsability.

-A limited liability corporation is a business created by two or more parties in which their liability is limited to the amount invested.

According to this, the answer is that given only these facts, the business organization of their law practice is a partnership because the business was created by two parties that have control over the operation and share the profits.

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.