Being Your Own Boss Means

question 241

Multiple Choice

Being your own boss means

• A) reducing your working hours.
• B) having the freedom to set your own working hours and taking lots of vacations, particularly when just beginning the business.
• C) accepting accountability for the mistakes of the business.
• D) having limited financial resources to throw into the business.

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Definitions:

Bretton Woods Agreement

An agreement established in 1944 which set up an international monetary system based on fixed exchange rates and established the International Monetary Fund (IMF) and the World Bank.

Net Indebtedness

The total amount of borrowed money minus assets or reserves, indicating a person's, company's, or country's financial obligations.

Factor Payments

Payments made to the factors of production, such as wages to labor, rent to landowners, interest to capital, and profits to entrepreneurs.

International Currency Markets

Global platforms for exchanging one country's currency for another's, influencing foreign exchange rates and international trade.