Hoping to Qualify for a Microloan from the Small Business

question 46

True/False

Hoping to qualify for a microloan from the Small Business Administration, Magdalena's business plan clearly identifies her strategy to profitably serve a target market. Unfortunately, her lack of business experience and limited collateral greatly reduce her chances of obtaining the microloan.

Recognize the factors that can lead to shifts in market demand and supply.

Analyze the short-run and long-run effects of changes in demand and supply on market equilibrium.

Identify the conditions for long-run equilibrium in competitive markets.

Distinguish between short-run and long-run equilibria in relation to firm and market responses.