Which of the Following Is an Example of an Activity

question 172

Multiple Choice

Which of the following is an example of an activity undertaken by an entrepreneur?

• A)designing your landscaping for your new home
• B)holding a position as the president of a liberal arts college
• C)running for the president of the United States
• D)starting your own pet sitting business

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Definitions:

Profit-Maximizing

A strategy or point where a business achieves the highest possible profit with its current resources and market conditions.

Short Run

A period in economics where at least one input (such as plant size) is fixed, limiting the ability of a firm to adjust to market changes.

Market Price

The current price at which a good or service can be bought or sold in a given market.

Total Revenue

The total income received by a firm from selling its goods or services before any costs or expenses are subtracted.