International Business Transactions Require,by Definition,parties in

question 43

Multiple Choice

International business transactions require,by definition,parties in

• A)agreeing to bilateral treaties and trade agreements.
• B)two or more different countries.
• C)questions of public international law.
• D)the NAFTA or the GATT treaties.
• E)both private law and public law.

---

Definitions:

Price Elasticity

The measure of how much the quantity demanded of a good responds to a change in its price.

Demand Schedule

A table that shows the quantity of a good that consumers are willing to purchase at different prices.

Total Revenues

The total amount of income generated by the sale of goods or services before any expenses are subtracted.

Perfectly Inelastic

A market demand situation where the quantity demanded remains constant regardless of changes in price.