Exam (elaborations)
Test 3 - Chapter 9 - The Entrepreneur and the Market Process
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Firms exist because they minimize the cost to using the price mechanism, firms lower transactions costs (to hire employees, to enforce contracts, to negotiate prices), and because firms succeed where markets fail (due to collaborative’s result of corporate culture and collective knowledge).
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Institution
Decision Making Economics
Course
Decision Making Economics
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Written for
- Institution
- Decision Making Economics
- Course
- Decision Making Economics
Document information
- Uploaded on
- April 26, 2022
- Number of pages
- 3
- Written in
- 2013/2014
- Type
- Exam (elaborations)
- Contains
- Questions & answers
Subjects
- decision making economics
- decision making
- economics
- business
- business administration
- technology
- management
-
entrepreneur
-
market process
-
market
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