Sole proprietorships produce more goods and services than does any other form of business organization
a. True
b. False
B
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Today's corporate structures have very little in common with the joint-stock companies of colonial America
Indicate whether the statement is true or false
A direct or positive relationship between price and quantity supplied is
A) the market clearing price. B) a change in demand. C) a supply curve. D) a demand curve.
The school of economic thought that emphasized the importance of incentives to encourage savings, investment, and productivity is known as ________ economics.
Fill in the blank(s) with the appropriate word(s).
Sellers in competitive price-searcher markets
a. face competition both from existing firms and potential new entrants. b. face competition from existing firms but not from potential new entrants. c. face competition only from potential new entrants and only in the long run. d. can compete only by product quality since product prices are set by market forces.