Final answer:
A corporation is an enterprise owned by shareholders, separate from its owners, that plays a significant role in the economy.
Explanation:
Corporation is an enterprise that sells goods to customers and is owned by shareholders who own stock in the firm. They have a legal identity separate from its owners and are known for producing and trading goods.
Corporations are a common form of business organization in the United States, responsible for a significant portion of the nation's total output. They can be publicly traded or privately held, with shareholders aiming to make profits.
Shareholders of a corporation have ownership rights and some influence over company decisions. Overall, corporations play a crucial role in the economy as key contributors to output and capital ownership.
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