In the Resource Market, Firms Demand Resources in Order to

question 159

Multiple Choice

In the resource market, firms demand resources in order to

• A)maximize profit
• B)maximize total revenue
• C)maximize marginal revenue
• D)maximize utility
• E)minimize cost

---

Definitions:

Business Unit Objectives

Specific, strategic targets set by a business or division within a larger corporation, aligning with the overall corporate goals.

Profit Objectives

Financial goals that a business aims to achieve, typically measured in terms of net income or margin.

Sales Forecasting

The process of estimating future sales volumes based on historical data, market trends, and analysis.

Industrial Products

Goods produced and used in industrial processes, including machinery, equipment, and materials, distinct from consumer products sold for personal use.