A Company Which Sells Goods to Customers Is Known as a

question 138

Multiple Choice

A company which sells goods to customers is known as a

• A) proprietorship.
• B) corporation.
• C) merchandising company.
• D) service company.

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Definitions:

Short-Run Marginal Cost

The cost incurred by producing one additional unit of a product or service in the short run, where some factors are fixed.

Government Regulations

Laws and rules established by governmental agencies to control or modify economic behavior, protect consumers, or preserve natural resources.

Resource Prices

The cost of inputs used in the production of goods or services, such as raw materials, labor, and energy.

Sunk Costs

Costs that have already been incurred as a result of past decisions. They are sometimes referred to as historical costs.