A business organization that employs resources to produce goods and services for profit is

Question

Quizplus · Accepted Answer

A firm is defined as a business organization that employs resources (such as labor, capital, and materials) to produce goods or services that are sold for profit. Therefore, option B is the correct answer. Option A refers to a concept related to the payment for the use of a factor of production, option C refers to knowledge that is only available to certain individuals, and option D refers to the cost of forgoing alternative investments when making a decision to invest in a particular project.

A Business Organization That Employs Resources to Produce Goods and Services