Firms Would Not Exist If

question 27

Multiple Choice

Firms would not exist if

• A)contracts were incomplete.
• B)residual income equaled normal profit.
• C)income was spontaneously earned.
• D)contracts were complete.

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Definitions:

Exclusiveness

The state or condition of being exclusive; limiting access or participation to a specific group or individual.

Enrich Relationships

Strengthening bonds and improving the quality and depth of personal connections.

Spark Passion

To ignite a strong and barely controllable emotion or enthusiasm in someone.

Positive Aspect

A feature or part of something that is advantageous, beneficial, or favorable.