Which of the following is the best explanation for why individuals own small businesses?
A) Because they cannot earn a living working for corporate America.
B) To provide a product consumers want.
C) The expectation of profit.
D) To gain experience for their next job.
Correct Answer:
Verified
Q11: Implicit costs
A)Include only payments to workers and
Q12: Table 22.1 Q13: The profit motive can encourage businesses to Q14: Profit Q15: Economists assume the principal motivation of producers Q17: Accounting costs and economic costs differ because Q18: Which of the following should not be
A)Is the difference between total revenue and
A)Accounting
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