Which of the following statements is correct? A business is always larger than a firm

Subject:EconomicsPrice: Bought3

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Which of the following statements is correct?

1. A business is always larger than a firm.
2. A company is owned by one person, while a firm is owned by more than one person.
3. Economists use the terms firm, company, and business interchangeably.
4. A business has multiple locations, while a company has only a single location.

Which of the following statements is correct?

1. The word “technology” and the word “innovation” have the same meaning.
2. An innovation is the practical application of an invention.
3. The word “technology” and the word “invention” have the same meaning.
4. An invention is the practical application of an innovation.