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Answer:
In any market economy, business plays a huge role. Business is the engine of an economy. Business provides jobs that allow people to make money and goods and services that people can buy with the money they make. Without business, the economy would be very inefficient and/or very primitive.
Explanation:
Answer:
b
Explanation:
when firms enter into an industry, there are more firms competing for customers. This would shift the demand curve to the right as supply increases. An increase in supply would lead to a reduction in price.
If firms leave the industry, there would be a reduction in supply and price would increase
Answer:
Owners Equity/Net Worth is $106,080
<u>Explanation:</u>
<u>Assets</u>
Cash $33,700
Supplies $5,780
Accounts Receivable $12,600
Equipment <u>$77,400</u>
Total Assets <u>$129,480</u>
<u>Liabilities</u>
Accounts Payable $23,400
<em>Owners Equity (Balance) </em><u><em>$106,080</em></u>
Total Liabilities and Equity <u>$129,480</u>
