By definition, a firm is
A) a business organization that makes profits.
B) a business organization that utilizes resources to produce goods or services with the goal of making a profit.
C) a business organization that consists of more than one person.
D) an organization, whether private or public, that may or may not make a profit.
B
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Economists typically define money as:
A. anything in which its value can be inflated. B. a means of payment that lacks intrinsic value. C. currency that is issued by a central bank. D. a widely accepted means of payment.
Which of the following statements about U.S. international trade in 2013 is CORRECT?
A) The value of U.S. exports exceeded the value of U.S. imports. B) The value of U.S. exports was about 33 percent of the value of total U.S. production. C) The United States imported only goods. D) The United States was the world's largest trader.