What is a corporation created for local government purposes, endowed with political powers?

The correct answer is that a corporation created for local government purposes, endowed with political powers, is referred to as a municipal corporation. Municipal corporations are typically established by the government to provide public services and governance functions at a local level. They have the authority to legislate, regulate, and manage local affairs, such as public safety, infrastructure, and community welfare.

Municipal corporations operate under the principles of local governance, carrying out functions that serve the needs of the community. They can levy taxes, form policies, and maintain public order, distinguishing them from other types of corporations that may engage in business or commercial activities without the same level of political authority.

The other options describe different forms of corporations or entities but do not embody the specific characteristics of a municipal corporation as defined. Quasi corporations and quasi-public corporations could involve some public functions, yet they do not typically possess the same level of political power and autonomy as municipal corporations. An affiliate corporation generally refers to a corporation that is associated with or connected to another entity, lacking the local governance aspect altogether.