Why do firms engage in the activity of production?
A) to help society advance technologically
B) to participate in the circular flow
C) to acquire profits
D) to develop a supply schedule
Correct Answer:
Verified
Q5: Among the factors of production are
A) capital.
B)
Q6: Most firms exist to make a profit.
Q7: In an output market
A) consumers purchase products.
B)
Q8: An entrepreneur is a person who does
Q9: All households have ultimately limited incomes.
Q11: Firms are the producing units of the
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
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