Asked by
Ashawna Stanley
on Dec 08, 2024Verified
Why do firms engage in the activity of production?
A) to help society advance technologically
B) to participate in the circular flow
C) to acquire profits
D) to develop a supply schedule
Circular Flow
An economic model that depicts how money and goods flow through the economy in a continuous loop between households and firms.
Profits
The financial gain obtained when the revenues generated from business activities exceed the expenses and costs incurred in operating the business.
- Acquire knowledge about the central purpose of enterprises and the idea of profit.
Verified Answer
HH
Learning Objectives
- Acquire knowledge about the central purpose of enterprises and the idea of profit.