Organizations that transform resources into products are known as
A) firms.
B) entrepreneurs.
C) households.
D) factors.
Correct Answer:
Verified
Q12: In factor, or input, markets
A) consumers purchase
Q13: Economists would classify the New York Mets
Q14: A factor market is
A) where goods are
Q15: In input, or factor, markets
A) consumers purchase
Q16: Mary Kay Ash was one of the
Q18: Entrepreneurs are unnecessary in a market economy,
Q19: An entrepreneur is a person who
A) assumes
Q20: Firms are organizations that
A) take advantage of
Q21: Consumers purchase products in _ markets.
A) output
B)
Q22: Factors of production are traded in the
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