Saylor academy bus101 - Study guides, Class notes & Summaries
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Saylor Academy BUS101 Exam Questios with 100% correct Answers
- Exam (elaborations) • 8 pages • 2024
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Saylor Academy BUS101 Exam Questios 
with 100% correct Answers 
Social Benefit - answerThe total benefit to society from producing or consuming a good or 
service. Social benefit includes all the private benefits plus any external benefits of production / 
consumption. If a good has significant external benefits, then the social benefit will be greater 
than the private benefit. 
Contract Theory - answerThe belief that business is a community of participants organized 
around a common purpose. T...
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