In an output market
A) consumers purchase products.
B) firms purchase resources.
C) households earn income.
D) land, labor, and capital may be exchanged.
Correct Answer:
Verified
Q2: Resources are exchanged in _ markets.
A) product
B)
Q3: Michael Dell was the first individual who
Q4: The consuming units in an economy are
Q5: Among the factors of production are
A) capital.
B)
Q6: Most firms exist to make a profit.
Q8: An entrepreneur is a person who does
Q9: All households have ultimately limited incomes.
Q10: Why do firms engage in the activity
Q11: Firms are the producing units of the
Q12: In factor, or input, markets
A) consumers purchase
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