A business owned and run by a single individual who has rights to all profits is known as

a) Sole proprietorship

b) General partnership

c) Public corporation

d) Limited liability company

Consumer surplus is the a. amount of a good consumers get without paying anything. b. amount a consumer pays minus the amount the consumer is willing to pay. c. amount a consumer is willing to pay minus the amount the consumer actually pays. d.

Higher labor prices decrease the

True or false: the market for wheat does exhibit the two primary characteristics that define perfectly competitive markets.

Concord Corporation is planning to sell 500 boxes of ceramic tile, with production estimated at 470 boxes during May. Each box of tile requires 44 pounds of clay mix and a 0.25 hour of direct labor. Clay mix costs $0.

During the taking of its physical inventory on December 31, Almond Supplies Company incorrectly counted its inventory as $545,000 instead of the correct amount of $554,000.

Transfer payments are not included in gdp calculation because these are

In which year were tobacco commercials banned from network television in the united states?

Maggie's manager notices that she exhibits an external locus of control when she speaks about her work. Her manager should Group of answer choices a. direct Maggie toward a job with more autonomy. b.

Consider this argument: "The kidnappers have taken eight people hostage and are holding them at a farmhouse just outside town. If the SWAT team assaults the farmhouse, the hostages could be killed.

Rent seeking is an attempt to A. use the government for individual benefit at the expense of others. Regulatory capture is an example of this, where a regulatory agency makes decisions benefiting the firm being regulated. B.