Barter economy - Study guides, Class notes & Summaries

What is the industry term used to describe the sum of prices paid by a business's customers? - ️️Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - ️️Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - ️️Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - ️️Profit What element is not present in a barter economy? - ...

WGU D089 Principles of Economics Questions and Answers 100% Pass Absolute Advantage The capability to produce more of a given product using less of a given resource than a competing entity Absolute Quota Strictly limiting the quantity of goods that may enter a country Accounting Profit Total revenues minus explicit costs, including depreciation Acquisition When one firm purchases another Ad Valorem Tariffs Import tax based on a fixed percentage of the assessed commercial value of imported g...

What is the industry term used to describe the sum of prices paid by a business's customers?: total revenues Historically, what concept have hospitality managers chiefly used to calcu- late their selling prices?: costs What is an algebraic equivalent of the formula: Sales = Costs + Profit?: prof- it=sales-costs What is the name for the net value achieved by both parties in a business transaction?: profit What element is not present in a barter economy?: money What is the formula used to ca...

TMU Exam #2 Jensen W-History Questions and Answers 440 AD -Answer-Roman Bishop (Leo I) claims supremacy over other bishops 843 AD -Answer-Restoration of Icons in the Eastern Church 1054 AD -Answer-"Great Schism" (East-West) begins (ends 1965) 1204 AD -Answer-Constantinople attacked as part of the Fourth Crusade 1453 AD -Answer-Constantinople falls to the Ottoman Turks Canonization -Answer-in the RCC, the definitive sentence by which the pope declares a particular dead person to have al...

What are the functions of money? correct answers Medium of exchange Unit of account Store of Value What are the types of money? correct answers commodity and Fiat money. Without money correct answers Trade would require Barter. Requires a double coincidence of wants waste of resources. Barter correct answers The exchange of one good or service for another. Double coincidence of wants correct answers Unlikely occurrence that two people each have a good the other wants. ...

Question 1 Not yet answered Marked out of 1.00 Flag question Question text Which one of the following is the main objective of macroeconomic policy? a. Unemployment b. Equitable distribution of income c. Price instability d. Sluggish economic growth Question 2 Not yet answered Marked out of 1.00 Flag question Question text Which of the following statements is/are correct in explaining the difference between production and income? a) Income is the remuneration th...

What is the industry term used to describe the sum of prices paid by a business's customers? - ANSWER-Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - ANSWER-Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - ANSWER-Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - ANSWER-Profit What element is not present in a barter economy...

Business Management Exam Questions And Answers Solved Correctly Business - answerThe organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society's needs. What are the four resources a business needs in order to be successful? - answerHuman resources, material resources, informational resources, and financial resources. What do service businesses do? - answerThey provide services. Ex: Haircuts, legal advice, tax preparation, etc. Inter...

Hospitality Revenue Management 2024 Exam Review What is the industry term used to describe the sum of prices paid by a business's customers? - ️️ - total revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - ️️ - costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - ️️ - profit=sales-costs What is the name for the net value achieved by both parties in a business transaction? - ️️ - profit...

What is the industry term used to describe the sum of prices paid by a business's customers? - ANSWER-Total revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - ANSWER-Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - ANSWER-Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - ANSWER-Profit What element is not present in a barter economy...