The most widely used source of short-term funding that Mr. Boyd (and other small business owners) would use to operate their business is trade credit.
<h3>What is Trade Credit?</h3>
This refers to the purchase financing where a person is allowed to collect goods and pay for them at a later date.
Hence, we can see that short term fundings are used to help startups and other businesses to stay afloat and the type of funding used by Mr. Boyd is trade credit.
Read more about trade credit here:
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Answer: C.) The actions of consumers in response to changes in price.
Explanation:
The Law of Demand states that as the price of a service/product decreases, the demand will increase and vice versa. Therefore, it doesn't necessarily related to the producer's response, but the consumer's. And since the consumer isn't producing, they are not in direct contact with the production costs.
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