Which of the Following Is a Characteristic of a Firm

question 14

Multiple Choice

Which of the following is a characteristic of a firm?

• A)It purchases inputs to produce its offerings.
• B)The business concentrates on revenues and not costs.
• C)If strives to identify the optimum level of profits that provides the most production.
• D)All of the above.
• E)None of the above.

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Definitions:

Group Size

Refers to the number of individuals forming a team or a collective.

Piece Rate Pay Systems

Compensation structures where employees are paid a fixed rate for each unit of production completed, often used to incentivize higher productivity.

Productivity

Measures the efficiency of production output in relation to the input used within a given period, commonly assessed in workplace and economic contexts.

Cooperation

The act of working together towards a common goal or purpose, often involving shared efforts or resources.