Which form of business organization creates a separate legal being?
a. partnerships and proprietorships
b. only proprietorships
c. only partnerships
d. only corporations
e. corporations and partnerships
D
Economics
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As depicted in the circular flow diagram, firms
A) supply the resources that households demand in factor markets. B) demand the goods and services that households supply in product markets. C) demand the resources that households supply in product markets. D) supply the goods and services that households demand in product markets.
Economics
Suppose demand for a good is QD = 100 - P and supply is QS = -20 + P. Suppose that a nationwide quota (of 20) is enforced so that more can be used in a war effort. What is the price?
a. 20 b. 40 c. 60 d. 80
Economics