Which of the Following Is an Element of a Good

question 104

Multiple Choice

Which of the following is an element of a good institution?

• A)High corruption.
• B)Strong redtape.
• C)Strong democracy.
• D)A large government size.
• E)A closed economy.

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Definitions:

Value-based Pricing

A pricing strategy where the price is set based on the perceived or estimated value of a product or service to the customer rather than on the cost of production.

Robot

An automated machine capable of carrying out a complex series of actions automatically, often programmable by a computer.

Operating Cost

Expenditures directly related to the day-to-day operations of a business, including costs for materials, labor, and overhead.

Useful Life

The duration for which an asset is expected to be operationally productive, impacting its depreciation schedule and replacement planning.