Assume That Only Two Countries, a and B, Exist

question 25

Multiple Choice

Assume that only two countries, A and B, exist.

-Refer to the table above. You are told that Country B has no minimum wage or child labor laws. Now the correct answer is

• A) country B will export good S.
• B) country A will export good S.
• C) both countries will export good S.
• D) trade will not occur between these two countries.
• E) both countries will import good S.

Recognize the importance of financial planning and awareness of funding sources for small businesses.

Understand the operational and legal foundations of various business structures including sole proprietorships, partnerships, and corporations.

Comprehend the significance and process of creating mission statements for businesses.

Know the challenges and failure rates of small businesses and strategies to mitigate these risks.