Select the items that describe perfect competition.

A) identical products

B) one seller

C) open entry and exit

D) price taker

The two categories of cost comprising conversion costs are a. direct labor and indirect labor b. direct labor and factory overhead c. factory overhead and direct materials d. direct labor and direct materials

If an interest rate is fixed that means the rate a. is adjustable. b. can go up or down based on factors in the credit market. c. will stay the same during the entire term of the loan. d.

What is the impact of a production tax on the equilibrium price? The equilibrium price A. falls and the equilibrium quantity rises. B. rises and the equilibrium quantity rises. C. rises and the equilibrium quantity falls. D.

What is one of the advantages of getting a government-sponsored mortgage instead of a conventional mortgage? O A. Government mortgages are easier to get approved than conventional mortgages. O B.

You plan to make five deposits of $1,000 each, one every 6 months, with the first payment being made in 6 months. You will then make no more deposits.

Which of the following factors does not cause a shift in the labor demand curve? A. Changing technology. B. Changes in output prices. C. Changes in the wage rate. D. Changing input prices.

What is the name given to the operations used by most organizations to reach their customer goals? O A. Research and development O B. Universal marketing functions O C. Customer support O D. Market planning

What term is used to describe spread-out or low-density development beyond the edge of services and employment? edge cities sprawl common-interest developments gated communities?

Elkins Corporation uses the perpetual inventory method. On March 1, it purchased $33,000 of inventory, terms 2/10, n/30. On March 3, Elkins returned goods that cost $3,000. On March 9, Elkins paid the supplier. On March 9, Elkins should credit:a.

State the main purpose of a business plan