In terms of the numbers of firms in the U.S. economy, the most common type of firm is the ______

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According to data from the U.S. Small Business Administration, the most common type of firm in the U.S. economy is the sole proprietorship. As of 2018, there were roughly 23 million sole proprietorships, compared to 5.7 million corporations, 1.7 million partnerships, and 1.4 million nonprofit organizations. Consumer cooperatives are relatively uncommon in the U.S. economy.

In Terms of the Numbers of Firms in the U