A Business Is an Organization in Which Basic Resources or Inputs

question 101

True/False

A business is an organization in which basic resources or inputs, such as materials and labor, are assembled and processed to provide outputs in the form of goods or services to customers.

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Definitions:

Duress

The act of compelling someone to act against their will by using force, threats, or coercion, which can render a contract voidable.

Physical Compulsion

The use of physical force to make someone do something against their will.

Improper Threats

Improper threats involve the use of coercion, intimidation, or unlawful pressure to force someone into an action or decision against their will.

Misrepresentation

The act of providing false or misleading information, intentionally or unintentionally, during a transaction or contractual agreement.