​Which of the Following Describes a Firm

question 19

Multiple Choice

​Which of the following describes a firm?

• A)​Purchases labor hours from workers
• B)Borrows capital from investors
• C)Combines labor and capital to create production,moving them from their low value use to high value use
• D)​All of the above

---

Definitions:

Nonconforming Goods

Products delivered by a seller that do not meet the specifications or requirements as stated in a contract of sale.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States.

Breach of Contract

The violation of any of the agreed-upon terms and conditions of a binding contract. This breach could involve not performing on time, not performing in accordance with the terms of the agreement, or not performing at all.

Impracticable

Not possible to do or carry out in practice, either due to technical, legal, or other constraints.