If a Company in the United States Allows a Company

question 62

Multiple Choice

If a company in the United States allows a company in England to use its brand name for a fee,the company is said to have entered into a(n) ________ agreement.

• A)license
• B)direct investing
• C)venture
• D)export
• E)import

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Definitions:

Price Floor

A minimum price set by the government or a regulatory body, below which a particular good or service cannot legally be sold.

Surplus

An excess quantity, especially referring to the situation where supply exceeds demand in a market, often leading to a decrease in prices.

Binding Minimum Wage

A minimum wage rate that is set above the equilibrium wage in the labor market, causing potential unemployment by forcing employers to pay more than the market rate for labor.

Incomes

Earnings received by individuals or entities for their labor, investments, or participation in business activities, often measured on a regular basis like monthly or yearly.