What is a commodity / in economics/trade

Which of the following is true of monopoly but not true of perfect competition? A. Firms can potentially earn economic profits in the short run. B. Total revenue is the product of price times the quantity sold. C.

On November 15, Meier Company received $3,000 cash from a customer for services that were performed on November 1. According to the Revenue Recognition Principle, on which date should the revenue be recorded?

Which participants are of greatest importance in determining what goods and services are produced? a. entrepreneurs. b. firms. c. the financial sector. d. households. e. the government?

Choose a business plan and describe at least three strengths of the plan and at least three weaknesses of the plan.

The city of Morehead leased equipment. The life of the non cancellable lease is 10 years. Using an 8 percent interest rate, the present value of the lease payments is $905,861.

Assume that we use a perpetual inventory system and that five identical units are purchased separately at the following four dates and costs: April 5 at $10, April 10 at $12, April 15 at $14, and April 20 at $16 April 20 $17.

In Section 7, the word warranty is best defined as A) a contract between USATestPrep and its Customers. B) a guarantee of any part of the site and its contents. C) a pledge of Customer service if anything goes wrong with the site.

A (n) is the issuer's written promise to pay an amount equaling the par value. The par value is paid at a specified future date. Most often, the issuer is required to make semiannual interest payments.

The primary goal of the Consumer Financial Protection Bureau is: A To monitor your credit report and ensure your identity and other sensitive data has not been compromised. B To protect against abusive or deceptive debt collection purposes.

Jake Skinner purchases a big screen TV on credit and will repay the loan with one payment at the end of 90 days. What type of credit did Jake use?