You Are the Owner and Only Employee of a Company

question 159

Multiple Choice

You are the owner and only employee of a company that repairs computers.Last year,you earned total revenues of $75,000.Your costs for equipment,rent,and supplies were $10,000.To start this business you quit a job at a computer software firm that paid $40,000 a year.Last year,your economic profits were

• A) $100,000.
• B) $75,000.
• C) $50,000.
• D) $25,000.

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Definitions:

Primitivism

An art movement or cultural attitude that idealizes primitive or archaic societies and the perceived innate values associated with them, often in contrast to modern complexities.

Great Migration

A period during the early 20th century where millions of African Americans moved from the rural South to urban areas in the North and West of the United States seeking better economic opportunities and escaping racial segregation.

Middle-Class Blacks

African Americans belonging to the middle socioeconomic group, often focusing on economic and educational aspirations.

Mamie Smith

An influential American blues singer and actress widely known as the "Queen of the Blues."