1. Entreprenuership: a. is costly to create and cannot be protected by cpyright

ID: 1114446 • Letter: 1

Question

1. Entreprenuership:

a. is costly to create and cannot be protected by cpyright and patents

b. confers poperty righst to an original creation of an author, srtist, or producer

c. confers property rights over products that are innovations of entreprenuers

d. is necessary for the success of any business venture

e. is not as necessary for production as other factors.

2. The market value of a bond is ___

a. directly related to the rate of interest on the bond

b. inversely related to the rate of interest on the bond

c. not related to the rate of interest on the bond

d. directly related to the maturity date of the bond

e. inversely related to the maturity date of the bond

3. A labor union is a group of:

a. employees who join together to improve their working conditions

b. firms that join together to hire workers

c. firms that work together to negotiate better prices in the market

d. farmers who work together to receive better prices for their agricultural products

e. workers and firm owners who join together to improve working conditions.

(1) (d)

Like all tangible factors of production, entrepreneurship is an essential requirement in a business venture.

(2) (b)

If interest rate rises (falls), market value of a bond falls (rises).

(3) (a)

A labor union is an association formed by workers.

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