Use the concept of marginal utility to explain the following: Newspaper vending machines are designed so that once you have paid for one paper, you could take more than one paper at a time. But soda vending machines, once you have paid for one soda, dispense only one soda at a time.
Chapter 3 Notes Friday, October 14, 2016 7:36 PM What is a Small Business -a small business is hard to define -the U.S Departmentof Commerceconsiders a business small if it consists of less than 500 employees -the U.S Small Business Administration considers a business small depending on the industry -Small Business Administration (SBA): gov. agency charged with assisting small businesses -Small Business: independently owned business that has relatively little influence in its market The Importance of Small Business in the U.S Economy -Job creation:thousands of small businesses provide work for the public -Innovation: innovationsoften come from small businesses -Contributions to big business: small businesses often sell big businesses products Popular areas of small business enterpr
