Podcast
Questions and Answers
What is the key feature of a firm?
What is the key feature of a firm?
- Resource allocation
- Market demand
- Innovation
- Organization (correct)
Which of the following is considered a natural resource?
Which of the following is considered a natural resource?
- Intellectual property
- Labor
- Machinery
- Land (correct)
What does profit equal to?
What does profit equal to?
- Revenue + Expenses
- Revenue - Expenses (correct)
- Revenue / Expenses
- Expenses - Revenue
Which factor is essential for goods and services in the market?
Which factor is essential for goods and services in the market?
What differentiates firms from other organizations?
What differentiates firms from other organizations?
What distinguishes a firm from other organizations?
What distinguishes a firm from other organizations?
Which factor is essential for goods and services to be successful in the market?
Which factor is essential for goods and services to be successful in the market?
What are considered natural resources?
What are considered natural resources?
What represents the formula for profit calculation?
What represents the formula for profit calculation?
What is the role of entrepreneurship in a firm?
What is the role of entrepreneurship in a firm?
Which of the following is NOT a key feature of a firm according to the text?
Which of the following is NOT a key feature of a firm according to the text?
Which of the following is considered a human resource according to the text?
Which of the following is considered a human resource according to the text?
What does profit equal to according to the text?
What does profit equal to according to the text?
Which factor is essential for goods and services in the market according to the text?
Which factor is essential for goods and services in the market according to the text?
What differentiates firms from other organizations according to the text?
What differentiates firms from other organizations according to the text?
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