Most Nations Recognize That Private Enterprise Is Detrimental to Business

question 157

True/False

Most nations recognize that private enterprise is detrimental to business growth and what is best for consumers. Recently, a nation had the opportunity to sell its government-owned telecommunication system to a private firm. Instead it realized that it would be better off if it raised taxes so that it could maintain the status quo.

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Definitions:

Short Run

A period in economics during which at least one input (like plant size) is fixed and cannot be changed.

Maximum Profit

The highest possible financial gain that can be achieved from the operations of a business after all costs have been subtracted.

Market Price

The present cost at which a service or asset is available for purchase or sale.

Output

The total amount of goods and services produced by an economy, a sector, or a business over a specific period of time.