Difference between revisions of "Firm"
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(New page: A firm is any business organization that uses factors of production (capital, labor, land and entrepreneurship) in order to supply goods or services. The above is the general econom...) |
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| − | A firm is any business organization that uses [[factors of production]] (capital, labor, land and | + | A '''firm''' is any [[business]] organization that uses [[factors of production]] ([[capital]], [[labor]], land and [[entrepreneur]]ship) in order to supply [[good]]s or [[service]]s. |
| − | The above is the general economic definition. In popular usage in the United States, a firm is typically a partnership of | + | The above is the general economic definition. In popular usage in the [[United States]], a firm is typically a partnership of [[lawyer]]s devoted to providing legal services. |
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| + | [[Category:Economics]] | ||
Latest revision as of 20:10, May 16, 2007
A firm is any business organization that uses factors of production (capital, labor, land and entrepreneurship) in order to supply goods or services.
The above is the general economic definition. In popular usage in the United States, a firm is typically a partnership of lawyers devoted to providing legal services.