Ben Decides to Start His Own Business Designing Websites for Other

question 47

Multiple Choice

Ben decides to start his own business designing websites for other businesses.Ben's business would be classified as a

• A) distribution business.
• B) retailer.
• C) production business.
• D) wholesaling business.
• E) service business.

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Definitions:

Wage Rate

The standardized amount of compensation received by an employee for performed work per unit of time, typically expressed per hour or year.

Bushel of Corn

A unit of measure for volumes of dry commodities, typically used in the U.S. for agricultural goods like corn, where one bushel equals approximately 56 pounds.

Workers

Individuals engaged in an activity, especially to earn an income.

Equilibrium Market Wage

The wage rate at which the quantity of labor supplied matches the quantity of labor demanded.