Complete the Following Using the Terms Listed Below

question 80

Multiple Choice

Complete the following using the terms listed below.
-______ helps entrepreneurs work quickly and efficiently, provide attentive customer service, increase sales, and project professional images.

• A)lifestyle entrepreneur.
• B)globalization
• C)angel investor
• D)enterprise zone
• E)debt financing.
• F)internal locus of control.
• G)debt financing
• H)classic entrepreneur
• I)social entrepreneur
• J)seed capital
• K)venture capitalist
• L)intrapreneurship
• M)urban reserve
• N)information technology

---

Definitions:

P = MC

An economic principle stating that the optimal level of output occurs when the price (P) equals marginal cost (MC), guiding firms in perfect competition on production decisions.

Perfect Competition

A market structure characterized by a large number of small firms, homogenous products, free entry and exit, and perfect information, leading to firms being price takers.

Marginal Cost

The expense incurred from manufacturing an additional unit of a product.

Marginal Revenue

The increment in revenue resulting from the sale of an additional unit of output in a market.