Organizations That Transform Resources into Products Are Known as

question 65

Multiple Choice

Organizations that transform resources into products are known as

• A) firms.
• B) entrepreneurs.
• C) households.
• D) factors.

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Definitions:

State Court

A court that is part of a state's judicial system, handling matters within that state according to state laws.

Federal Court

Courts established under the federal government's authority, dealing with issues under federal law or between states.

Diversity of Citizenship

A condition for federal court jurisdiction where the parties involved are citizens of different U.S. states or a foreign country.

Federal Court

Courts of limited jurisdiction that hear cases involving federal laws, interstate matters, and other cases as authorized by the Constitution.