Shawn Sine Decides to Start His Own Business

question 24

Multiple Choice

Shawn Sine decides to start his own business.How likely is Shawn to still be operating a successful business in five years?

• A) It depends on whether it is an e-business or not.
• B) It is very likely because most small businesses are successful.
• C) It is likely because the chance of failure is nearly equal to the chance for success.
• D) It is unlikely because well over half of new small businesses fail within the first six years.
• E) It is very unlikely because almost all new businesses fail within the first five years.

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Definitions:

Units Of Berries

Units of berries refer to the quantified portions or measurements used to define an amount of berries, typically used in contexts of production, sale, or consumption.

Perfect Substitute

Perfect substitutes are goods or services that can be used in place of one another with no loss of utility to the consumer, such that one can be replaced by the other in use.

Units Of Good

The quantifiable measure of a product or service that is produced by a company.

Utility Function

An expression that quantitatively describes how consumer preferences are ordered, indicating the level of happiness or fulfillment they derive from various goods or services.