Based on the Fact That the Companies Ford, IBM, PepsiCo

question 27

Multiple Choice

Based on the fact that the companies Ford, IBM, PepsiCo, and McDonald's own and operate producing units in many different countries, they are categorized as:

• A)joint ventures.
• B)sole proprietorship firms.
• C)partnership firms.
• D)multinational firms.
• E)co-operative firms.

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Definitions:

Nonexcludable

A characteristic of a good or service indicating that it is not possible to prevent non-paying customers from accessing it.

Excludable

A property of a good whereby it is possible to prevent individuals from enjoying the good unless they pay for it.

Public Good

A good or service offered to every member of a society for free, provided by either governmental bodies or private entities or individuals, without seeking to make a profit.

Demand Curve

An illustrated chart that displays the connection between a product's price and the amount consumers are willing to buy at those price levels.