In terms of the two main forms of economic organization, the firm can be understood as:
A)An organization that sells products and services to its environment as its "raison d'etre"
B)An organization based around financial resources and physical resources
C)An organization comprising individuals bound by employment contracts to a central contracting authority
D)An organization with employees obeying managers

Question

Quizplus · Accepted Answer

The firm is primarily understood as an organization where individuals are bound by employment contracts to a central authority, which is responsible for coordinating and managing the activities of the firm.

In Terms of the Two Main Forms of Economic Organization