Which of the Following Business Decisions Will Be Made by Firms

question 19

Multiple Choice

Which of the following business decisions will be made by firms that are price searchers but not those that are price takers?

• A) What combination of resources should be used to produce a product that is supplied?
• B) What output should be produced?
• C) What price should be charged?
• D) What legal structure of business organization (for example, a proprietorship or corporation) should be used?

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Definitions:

International Trade

The exchange of goods, services, and capital between countries, driven by comparative advantages and market needs.

Domestic Producers

Businesses or manufacturers that produce goods within their own country rather than importing them from abroad.

Trade Sector

An economic segment that involves the exchange of goods and services across domestic and international boundaries.

Share Of The Economy

Represents the proportion or segment of the economy attributed to specific sectors, businesses, or activities.