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15 Cards in this Set
254.) The quantity of a certain commodity that is offered for sale at a certain price at a givenplace and time.A. Demand B. SupplyC. StocksD. Goods255.) Work-in process is classified as:A.An assetB.A liabilityC.An expensesD.An owner’s equity256.) What is the highest position in the corporation?A. PresidentB.Board of DirectorsC.Chairman of the BoardD. Stockholders257.) Type of ownership in business where individuals exercise and enjoy the right in theirown interest.A. EquitableB. PublicC. PrivateD. Pure258.) Decrease in the value of a physical property due to the passage of time.A. InflationB. DepletionC. RecessionD. Depreciation259.) An association of two or more individuals for the purpose of operating a business as co-owners for profit.A.Sole proprietorshipB. CompanyC. PartnershipD. Corporation260.) We may classify an interest rate, which specifies the actual rate of interest on theprincipal for one year as:A.Nominal rateB.Rate of return C.Exact interest rateD.Effective rate261.) It is defined to be the capacity of a commodity to satisfy human want.A. DiscountB. LuxuryC. NecessityD. Utility262.) It is the amount which a willing buyer will pay to a willing seller for a property whereeach has equal advantage and is under no compulsion to buy or sell.A.Fair valueB.Market valueC.Book valueD.Salvage value263.) This occurs in a situation where a commodity or service is supplied by a number ofvendors and there is nothing to prevent additional vendors entering the market.A.Perfect competitionB. OligopolyC. MonopolyD.Elastic demand264.) These are products or services that are desired by human and will be purchased ifmoney is available after the required necessities have been obtained.A. UtilitiesB. NecessitiesC. LuxuriesD.Products, goods and services265.) These are products or services that are required to support human life and activities,that will be purchased in somewhat the same quantity even though the price variesconsiderably.A. UtilitiesB. NecessitiesC. LuxuriesD.Products, goods and services266.) A condition where only few individuals produce a certain product and that any action ofone will lead to almost the same action of the others. A. OligopolyB. Semi-monopolyC. MonopolyD.Perfect competition267.) Grand total of the assets and operational capability of a corporation.A.Authorized capitalB. InvestmentC.Subscribed capitalD.Money market Upload your study docs or become a Course Hero member to access this document Upload your study docs or become a Course Hero member to access this document Is the quantity of certain commodity that is offered at a certain price at a given place and time?Definition: Quantity supplied is the quantity of a commodity that producers are willing to sell at a particular price at a particular point of time.
What is quantity price?The price of a good or service in a marketplace determines the quantity that consumers demand. Assuming that non-price factors are removed from the equation, a higher price results in a lower quantity demanded and a lower price results in higher quantity demanded.
What is a refers to the total quantities of commodity offered for sale by all in producer?Hence the total quantity of a commodity supplied by all the firms in the market at a given price at a given time is called the market supply of that commodity.
What do you call the amount of commodity available for sale?The quantity supplied is the amount of a good or service that is made available for sale at a given price point. In a free market, higher prices tend to lead to a higher quantity supplied and vice versa. The quantity supplied differs from the total supply and is usually sensitive to price.
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Is the quantity of certain commodity that is bought at a certain price at a given place and time?
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