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16. Explain ways in which your shop & your customers participate in voluntary exchange. 17. You depend on your customers for business. Your customers depend on you to repair their cars. Therefore, you & your customers have: Economic (meaning that you need each other). 18. Looking Ahead: As owner of your repair shop, you decide who to serve, what kinds of goods and services you produce, who you hire – essentially you make all the decisions about how to run your business. In which type of economy is your "sole proprietorship" business? (circle one)

16. Explain ways in which your shop & your customers participate in voluntary exchange. 17. You depend on your customers for business. Your customers depend on you to repair their cars. Therefore, you & your customers have: Economic (meaning that you need each other). 18. Looking Ahead: As owner of your repair shop, you decide who to serve, what kinds of goods and services you produce, who you hire – essentially you make all the decisions about how to run your business. In which type of economy is your "sole proprietorship" business? (circle one)

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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please help do all 3 PLS!! i need it
16. Explain ways in which your shop & your customers participate in voluntary exchange. 17. You depend on your customers for business. Your customers depend on you to repair their cars. Therefore, you & your customers have: Economic (meaning that you need each other). 18. Looking Ahead: As owner of your repair shop, you decide who to serve, what kinds of goods and services you produce, who you hire - essentially you make all the decisions about how to run your business. In which type of economy is your "sole proprietorship" business? (circle one) Traditional Command Mixed-Market Partnership
Transcribed Image Text:16. Explain ways in which your shop & your customers participate in voluntary exchange. 17. You depend on your customers for business. Your customers depend on you to repair their cars. Therefore, you & your customers have: Economic (meaning that you need each other). 18. Looking Ahead: As owner of your repair shop, you decide who to serve, what kinds of goods and services you produce, who you hire - essentially you make all the decisions about how to run your business. In which type of economy is your "sole proprietorship" business? (circle one) Traditional Command Mixed-Market Partnership
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