The Statement "An Increase in the Price of Gasoline Will

question 105

Multiple Choice

The statement "An increase in the price of gasoline will lead to a decrease in the amount purchased" is

• A) a political statement.
• B) a positive statement.
• C) a normative statement.
• D) a scientific statement.

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Definitions:

Proprietor

The owner of a business establishment, a shop, or any other commercial enterprise.

Sole Proprietorship's Profits

The total income a sole proprietorship generates after expenses are deducted, belonging entirely to the business owner.

Deception

The act of misleading or tricking someone into believing something that is not true, often for personal gain.

Franchisor

A business entity that grants another party the right to operate a business using its trademark, products, and business model.