Entrepreneurship is:
a. human capital
b. another word for the financial capital that can be used to start a business.
c. the resource that organizes the other factors of production in order to produce goods and/or services.
d. another word for physical capital that is used to produce goods and services.
c
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The fact that Jackie received a higher raise than did Jamie, while processing 12 percent more customers at her bank teller line, is evidence of wage discrimination
a. True b. False Indicate whether the statement is true or false
Society will produce ________ if price and marginal cost are equated for all firms.
A. the minimum output B. the efficient mix of output C. no output D. the maximum output
The slope of a line is the
A. values on the y-axis divided by the values on the x-axis. B. values on the x-axis divided by the values on the y-axis. C. change in the values along the x-axis divided by the change in the values along the y-axis. D. change in the values along the y-axis divided by the change in the values along the x-axis.
The barrier to entry protecting a social site like Facebook is primarily
A. economies of scale. B. ownership of a scarce factor of production. C. patents. D. network effects.