A _____ is best described as any independently owned and operated business that is not dominant in its competitive area and does not employ more than 500 people.

A) publicly owned business
B) limited liability company
C) small business
D) publicly traded company
E) conglomerate

Small Business

Any independently owned and operated business that is not dominant in its competitive area and does not employ more than 500 people.

Competitive Area

The space or domain in which businesses compete against each other for market share.

Independently Owned

Refers to a business or property that is owned by an individual or a group without corporate or external control.