The Majority of New Business Owners Work Fewer Than 40

question 75

True/False

The majority of new business owners work fewer than 40 hours per week.

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Definitions:

Production Resource

Resources used in the creation of goods and services; these include land, labor, capital, and entrepreneurship.

Market Price

The present cost for purchasing or selling a product or service in a market setting.

Influence

Influence is the capacity to have an effect on the character, development, or behavior of someone or something, or the effect itself.

Perfectly Competitive Market

A perfectly competitive market is one in which there are many buyers and sellers, all of whom have complete market information, and where the goods being traded are identical, leading to one market price.