Match the Following

question 13

Multiple Choice

Match the following.You may use a response once,more than once,or not at all.
-Can choose suppliers and employees without worrying about existing agreements

• A)Starting a business from scratch
• B)Buying an existing business
• C)Buying a franchise
• D)Both starting a business from scratch and buying an existing business
• E)Both buying an existing business and buying a franchise

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Definitions:

Total Utility

The overall satisfaction or pleasure a person derives from consuming a certain amount or quantity of goods or services.

Limited Income

Income that is not sufficient to meet the minimum standard of living or personal financial needs.

Total Product Curve

Illustrates the total output of a good or service produced by a firm as a function of the input used.

Process Innovation

An improvement in the methods or technologies used in the production of goods and services, aimed at increasing efficiency or quality.