When a Firm Sells a Good or a Service,the Sale

question 161

Multiple Choice

When a firm sells a good or a service,the sale contributes to the nation's income

• A)only if the buyer of the good or service is a household.
• B)only if the buyer of the good or service is a household or another firm.
• C)whether the buyer of the good or a service is a household, another firm, or the government.
• D)We have to know whether the item being sold is a good or a service in order to answer the question.

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Definitions:

Time

The indefinite continued progress of existence and events in the past, present, and future, regarded as a whole.

Day

A unit of time equal to 24 hours, typically from midnight to midnight, used as a basic measure of time in daily life and various calculations.

Consumer Is King

A business philosophy emphasizing the importance of understanding and satisfying the needs and preferences of consumers to ensure success.

Era

A distinct period of history marked by notable events, characteristics, or developments.