Depression is a drastic decline in a national or international economy. It’s characteristic is_____________?

A. decreasing business activity
B. falling prices
C. unemployment
D. all of these

What is the cost effective ?

A. cheap things
B. substandard things
C. economical in terms of the goods or services received for the money spent
D. free in terms of the goods or services received for the money spent

Cost of production plus a fixed rate of profit is called ?

A. cost plus
B. cost effective
C. end price
D. consumer price

Term the enterprise or organization which is managed by those who use its facilities or services ?

A. limited company
B. society
C. corporation
D. cooperative

Name the organization in which people are associated together for a common purpose under a common name. This organization is recognized and created by law ?

A. company
B. corporation
C. cooperative
D. limited company

A country can still gain from trading certain goods even though its trading partners can produce those goods more cheaply. How is known this principle ?

A. relative advantage
B. complete advantage
C. comparative edge
D. comparative advantage

Goods that satisfy human wants though their direct use or consumption are called______________?

A. cash goods
B. consumer items
C. consumer goods
D. cash items

Point out the term for producer goods such as machinery that is used in production of commodities ?

A. capital assets
B. running capital
C. capital goods
D. hard capital

The term Cartel refers to ?

A. a combination of firms for business purposes
B. an official agreement between governments at war, especially for exchange of prisoners
C. unity of parties, factions or nations in a common cause
D. all of the above

Find out the term for the purpose that a buyer must pay for the goods at the time of its delivery ?

A. barter
B. payment on delivery
C. gives in take
D. cash on delivery