Most Economic Theory Is Based on the Assumption That Firms

question 3

Multiple Choice

Most economic theory is based on the assumption that firms have one goal.Which of the following is that goal?

• A)Profit maximization.
• B)Continued growth of the corporation's sales and size of operations.
• C)The achievement of management autonomy in decision making.
• D)Development of state-of-the art technology.
• E)Enhancement of the company's image and the management's pride.

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Definitions:

Creating Opportunities

The process of identifying and acting upon situations or initiatives that can lead to new growth or advantages.

Existing Products

Goods or services that are currently available on the market, distinguished from newly developed or conceptual offerings.

Long Period

An extended duration of time, which can span years or even decades, often used in the context of investments or planning.

Isolated Inventor

An individual who develops new ideas or inventions independently, often without the support of an organization.