Truel False Questions
1. The majority of small business firms are successful at the end of ten yeas.
2. For a business to be organized, it must combine four types of resources. workers, natural resource,
ownership
3. The equilibrium price means that the supply and demand for a product are in bance.
4. Under communism, individual consumers determine what will be produced
5. Hewlett-Packard Corporation and Dell Computer use product differentiation in the markeplass.
6. If a firm's sales revenues exceed its expenses, the firm has earned a profit.
7. Fiscal policy determines the level of interest rates.
8. The ultimate objectives of business firms should be to satisfy the needs of their customers.
9. Adam Smith is the father of communism and advocated a classless society.
10. A business cycle consists of four states: peak, recession, trough, and recovery.