_____ Not Only Provide Factors of Production (Or Resources)but Also

question 67

Multiple Choice

_____ not only provide factors of production (or resources) but also consume goods and services.

• A)Households
• B)Suppliers
• C)Nonprofits
• D)Entrepreneurs

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Definitions:

Profits

The financial gain that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Price Ceiling

A legal maximum price that can be charged for a product or service, often set by government to control costs for consumers.

Price Floor

A government-imposed limit below which prices cannot fall, often set to protect producers.

Rent

A periodic payment made by a tenant to a landlord for the use of land, a building, or other property.