Which One of the Following Statements Is True

question 41

Multiple Choice

Which one of the following statements is true?

• A)Firms are markets in and of themselves.
• B)Firms do not organize factors of production to produce goods and services.
• C)Firms are buyers of consumer goods and services.
• D)Efficient firms can eliminate scarcity.
• E)Firms are often more efficient than markets as coordinators of economic activity.

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Definitions:

Filtration Masks

Protective masks designed to filter out harmful particles from the air breathed in by the wearer.

Niche Market

A focused, targetable portion (segment) of a market, characterized by specific and distinct needs or preferences.

Points-Of-Difference

Unique attributes or benefits of a product, service, or brand that set it apart from its competitors in the eyes of the target market.

CVP

Stands for Cost-Volume-Profit analysis, a tool used by businesses to determine how changes in costs and volume affect a company's operating income and net income.