Joanie Has Knowledge of the Accounting Industry

question 24

Multiple Choice

Joanie has knowledge of the accounting industry.She knows its processes,required equipment,and potential problems of her job.What type of managerial skills does she have?

• A)technical
• B)administrative
• C)interpersonal
• D)accounting

---

Definitions:

Surplus

An excess of supply over demand, resulting in an accumulation of unsold products or unused resources.

Equilibrium Price

The cost at which the amount of a product or service that consumers want to buy matches the amount that producers are willing to sell, resulting in a balanced market situation.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price over a specific period.

Supply Curve

A graphical representation of the relationship between the price of a good or service and the quantity of it that producers are willing and able to supply at that price.