Which of the Following Is Part of the Micro Level

question 46

Multiple Choice

Which of the following is part of the micro level of analysis when studying entrepreneurship?

• A) Technological conditions in the immediate market area in which the entrepreneur wants to operate.
• B) Overall market conditions.
• C) The nature of the stock market; what is happening on the New York Stock Exchange, etc.
• D) The entrepreneur's skills in selling a new product.
• E) The laws that apply to the product developed by the entrepreneur.

---

Definitions:

Market Price

The current market rate at which services or goods are offered for sale or purchase.

Cost Data

Information related to the expenses involved in producing a good or providing a service, used for pricing, budgeting, and financial analysis.

Pure Competition

Refers to a market structure where there are many sellers and buyers, products are homogeneous, and there is free entry and exit in the market.

Free Enterprise

An economic system based on private ownership, voluntary exchange, competition, and the freedom of individuals to engage in business transactions.