Which of the Following Organizations Would Be Considered a Small

question 86

Multiple Choice

Which of the following organizations would be considered a small business?

• A) producer of semiconductors with 2,000 employees
• B) wholesaler with fifty employees
• C) retail clothing store chain with annual sales of $26 million
• D) construction company with average annual receipts of $32 million
• E) farmer with annual receipts of $10 million

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Definitions:

Apple Juice

A fruit drink made by pressing apples and extracting the fluid, commonly consumed as a beverage.

Transitivity

A principle that if one option is preferred over a second, and the second is preferred over a third, then the first option is preferred over the third.

Consumer Preferences

The subjective tastes, as expressed by the utility function, that guide consumer choices in the marketplace.

Nonsatiation

The economic assumption that consumers always prefer more of a good to less, holding everything else constant.