The importance of small businesses to the economy of the Country U. Introduction: A business is an economic system whether the goods or services are exchanged for money. Production, buying of raw materials and selling of finished goods are the works related to the business. Business is the thing which improves the people’s standard of living.

Question

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Answer 1

Question

Chapter 3, Problem 3.1QR

Summary Introduction

To determine: The importance of small businesses to the economy of the Country U.

Introduction:

A business is an economic system whether the goods or services are exchanged for money. Production, buying of raw materials and selling of finished goods are the works related to the business. Business is the thing which improves the people’s standard of living.

Expert Solution & Answer

Explanation of Solution

The importance of small businesses to the economy of the Country U are as follows:

Small businesses would provide necessary goods and services to the larger businesses
It would encourage innovation and entrepreneurship
It creates more jobs

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Answer 2

Question

Chapter 3, Problem 3.1QR

Summary Introduction

To determine: The importance of small businesses to the economy of the Country U.

Introduction:

A business is an economic system whether the goods or services are exchanged for money. Production, buying of raw materials and selling of finished goods are the works related to the business. Business is the thing which improves the people’s standard of living.

Expert Solution & Answer

Explanation of Solution

The importance of small businesses to the economy of the Country U are as follows:

Small businesses would provide necessary goods and services to the larger businesses
It would encourage innovation and entrepreneurship
It creates more jobs

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Answer 3

Question

Chapter 3, Problem 3.1QR

Summary Introduction

To determine: The importance of small businesses to the economy of the Country U.

Introduction:

A business is an economic system whether the goods or services are exchanged for money. Production, buying of raw materials and selling of finished goods are the works related to the business. Business is the thing which improves the people’s standard of living.

Expert Solution & Answer

Explanation of Solution

The importance of small businesses to the economy of the Country U are as follows:

Small businesses would provide necessary goods and services to the larger businesses
It would encourage innovation and entrepreneurship
It creates more jobs

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Answer 4

Question

Chapter 3, Problem 3.1QR

Summary Introduction

To determine: The importance of small businesses to the economy of the Country U.

Introduction:

A business is an economic system whether the goods or services are exchanged for money. Production, buying of raw materials and selling of finished goods are the works related to the business. Business is the thing which improves the people’s standard of living.

Expert Solution & Answer

Explanation of Solution

The importance of small businesses to the economy of the Country U are as follows:

Small businesses would provide necessary goods and services to the larger businesses
It would encourage innovation and entrepreneurship
It creates more jobs

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Answer 5

Chapter 3, Problem 3.1QR

Summary Introduction

To determine: The importance of small businesses to the economy of the Country U.

Introduction:

A business is an economic system whether the goods or services are exchanged for money. Production, buying of raw materials and selling of finished goods are the works related to the business. Business is the thing which improves the people’s standard of living.

Expert Solution & Answer

Explanation of Solution

The importance of small businesses to the economy of the Country U are as follows:

Small businesses would provide necessary goods and services to the larger businesses
It would encourage innovation and entrepreneurship
It creates more jobs

Answer 6

Chapter 3, Problem 3.1QR

Summary Introduction

To determine: The importance of small businesses to the economy of the Country U.

Introduction:

A business is an economic system whether the goods or services are exchanged for money. Production, buying of raw materials and selling of finished goods are the works related to the business. Business is the thing which improves the people’s standard of living.

Expert Solution & Answer

Explanation of Solution

The importance of small businesses to the economy of the Country U are as follows:

Small businesses would provide necessary goods and services to the larger businesses
It would encourage innovation and entrepreneurship
It creates more jobs

Answer 7

Chapter 3, Problem 3.1QR

Summary Introduction

To determine: The importance of small businesses to the economy of the Country U.

Introduction:

A business is an economic system whether the goods or services are exchanged for money. Production, buying of raw materials and selling of finished goods are the works related to the business. Business is the thing which improves the people’s standard of living.

Answer 8

Expert Solution & Answer

Explanation of Solution

The importance of small businesses to the economy of the Country U are as follows:

Small businesses would provide necessary goods and services to the larger businesses
It would encourage innovation and entrepreneurship
It creates more jobs

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Ch. 3 - Prob. 3.1QR Ch. 3 - Prob. 3.2QR Ch. 3 - Prob. 3.3QR Ch. 3 - Prob. 3.4QR Ch. 3 - Prob. 3.5QA Ch. 3 - Prob. 3.6QA Ch. 3 - Prob. 3.7QA Ch. 3 - Prob. 3.8QA Ch. 3 - Prob. 3.9AE Ch. 3 - Prob. 3.10AE

Explanation of Solution

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Chapter 3 Solutions