A Major Advantage of Purchasing an Existing Business Is That

question 82

True/False

A major advantage of purchasing an existing business is that the customers are familiar with the location.

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Definitions:

Circular-Flow Diagram

The circular-flow diagram is an economic model illustrating the flow of goods and services, income, and payments between households and businesses in an economy.

Simple Economy

An abstract economy with few components, simplifying analysis of economic principles.

Households

The basic economic units consisting of all individuals who live together and make joint decisions on consumption and labor supply.

Firms

Entities that produce goods or provide services, typically with the aim of making a profit.