Indicate Whether Each of the Following Statements About Markets Is

question 10

Short Answer

Indicate whether each of the following statements about markets is true or false.
________ a)Financial resources can be provided to a business by conversion agents.
________ b)Resource owners are the businesses that transform resources into products that satisfy consumer desires.
________ c)Labor resources include both the physical and intellectual labor of a business's employees.
________ d)Conversion agents purchase their resources from resource owners.
________ e)Consumers are the main providers of resources in any market.

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Definitions:

Initial Investment

The amount of money used to start a venture, purchase assets, or establish the financial foundation of a business.

Asset

An item of value owned by an individual or corporation, expected to provide future benefits or value.

Liability

A legal obligation or responsibility that entails financial compensation or other actions to remedy damages or breaches of contract.

Certified Public Accountant

A professional accountant who has passed the required examination and met all other state and educational licensing requirements to be certified by the state.