Match the Term with the Definition

question 20

Multiple Choice

Match the term with the definition.
-Legislation passed in 1935 and 1937 that sought to avoid entanglement in foreign wars while protecting trade.It prohibited selling arms to nations at war and required nations to pay cash for nonmilitary goods and to transport them in their own ships.

• A)appeasement
• B)Battle of Midway
• C)D Day
• D)Double V campaign
• E)GI Bill of Rights
• F)good neighbor policy
• G)Holocaust
• H)internment camps
• I)Lend-Lease Act
• J)Manhattan project
• K)neutrality acts
• L)Selective Service Act

---

Definitions:

Purely Competitive

A purely competitive market is characterized by numerous sellers and buyers engaging in the exchange of homogenous goods or services, with no single entity able to influence market prices.

Market Price

The current market rate at which services or goods are offered for sale or purchase.

Cost Data

Information related to the expenses involved in producing a good or providing a service, used for pricing, budgeting, and financial analysis.

Pure Competition

Refers to a market structure where there are many sellers and buyers, products are homogeneous, and there is free entry and exit in the market.