Firms

question 163

Multiple Choice

Firms

• A)are where entrepreneurs combine resources
• B)are economic units formed by profit-seeking entrepreneurs
• C)are assumed to try to maximize profit
• D)reward entrepreneurs with profits, which are sales revenue minus the cost of production
• E)All of the answers are correct.

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Definitions:

Aquinas

A medieval philosopher and theologian, Thomas Aquinas is known for integrating Aristotelian philosophy with Christian doctrine, emphasizing ethics, natural law, and metaphysics.

Spirituality

The sense of connection to something bigger than oneself, often involving a search for meaning in life.

Religions

Organized systems of beliefs, practices, and rituals related to the divine or sacred, aimed at giving meaning to life or understanding the universe.

Leibniz

Gottfried Wilhelm Leibniz, a German polymath and philosopher who developed calculus independently of Isaac Newton and proposed the philosophical idea that we live in the best of all possible worlds.