Which of the Following Represents the Best Example of Proprietor's

question 103

Multiple Choice

Which of the following represents the best example of proprietor's income?

• A)the paycheck that Freeda brings home from her job as a computer programer
• B)the interest that Hans earns from the savings account he has with USA Bank
• C)the revenue that Janet has left over after she pays all the expenses associated with running her software development business
• D)the check that Hunter receives each month for leasing his land to the natural gas company that is drilling on his land
• E)the check that Trisha gets each month from the Social Security Administration

Understand the relationship between supply and demand and its impact on price and quantity sold.

Recognize the role of equilibrium in the market and how it is established.

Identify factors that cause shifts in supply and demand curves, and understand their effects on market outcomes.

Appreciate the impact of governmental policies such as price floors, ceilings, and rent controls on market equilibrium.

---

Definitions:

Soybean Cost

The expense associated with growing, harvesting, and processing soybeans, often influenced by factors such as input prices, labor costs, and market demand.

Farmer

An individual engaged in agriculture, raising living organisms for food or raw materials, typically on a farm.

Perfectly Competitive

A market structure characterized by many buyers and sellers, where no single buyer or seller can influence the price of a product.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers.