Firms are organizations that
A) take advantage of the public.
B) transform resources into products.
C) transform outputs into inputs.
D) demand consumer outputs.
Correct Answer:
Verified
Q15: In input, or factor, markets
A) consumers purchase
Q16: Mary Kay Ash was one of the
Q17: Organizations that transform resources into products are
Q18: Entrepreneurs are unnecessary in a market economy,
Q19: An entrepreneur is a person who
A) assumes
Q21: Consumers purchase products in _ markets.
A) output
B)
Q22: Factors of production are traded in the
Q23: Labor is demanded by firms in an
Q24: If the demand for coffee decreases as
Q25: If the demand for sardines increases as
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