Match Each Term with Its Definition

question 2

Multiple Choice

Match each term with its definition.
-Form of pension plan for employees who meet certain requirements

• A)HIPAA compliance officer
• B)security officer
• C)privacy officer
• D)W-2 form
• E)W-4 form
• F)Form I-9
• G)salary
• H)Federal Fair Labor Standards Act
• I)gross pay
• J)net pay
• K)auditing
• L)bereavement time
• M)profit sharing
• N)liability insurance
• O)gripe session

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Definitions:

Marginal Revenue

The enhanced earnings from selling an additional unit of a product or service.

Pure Competition

A market structure characterized by a large number of firms, all producing identical products, and no single firm has any influence over market price.

Extra Unit

The additional quantity of a product or service that is produced or provided.

Purely Competitive Firm

A company operating in a market where there are many buyers and sellers, all selling identical products, and no single buyer or seller can influence the market price.