Week Like 4

Question 0

A tax levied against imported products.

Answer 0

Tariff

Question 1

The cost incurred when one alternative must be chosen over another

Answer 1

Opportunity

Question 2

The state or condition of being unable to pay ones debt

Answer 2

Bankruptcy

Question 3

Value added to a product because it is available at the precise time the precise time the customer want it

Answer 3

Time utility

Question 4

Direct fact to face communicate between a buyer and a seller

Answer 4

Personal

Question 5

An accounting practice in which two perpendicular lines are utilized to distinguished between the debts and credits for an account

Answer 5

T-account

Question 6

An intermediary linking manufacturing and retailers

Answer 6

Wholesaler

Question 7

A transportation firm engaged in shipping merchandise solely for other firms.

Answer 7

Common carrier

Question 8

A market structure involving very few sellers 2-5 and, because of high start up costs and significant hurries to entry

Answer 8

Oligopoly