________ Provide the Resources Needed by a Company to Produce

question 44

Multiple Choice

________ provide the resources needed by a company to produce its goods and services.

• A) Wholesalers
• B) Suppliers
• C) Physical distribution firms
• D) Media firms
• E) Retailers

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Definitions:

Airlines

Entities that deliver passenger and freight transportation via air.

Short Run

A period in which at least one factor of production is fixed and cannot be changed, influencing production and cost.

Long Run

A time period in economics sufficient for all markets to adjust, including those for labor and capital, with all factors of production and costs variable.

Excess Capacity

A situation in which a firm is producing at a lower scale of output than it has been designed for, often leading to inefficiency and increased costs.