Which One of the Following Is a Positive Economic Statement

question 53

Multiple Choice

Which one of the following is a positive economic statement?

• A) An increase in the minimum wage will reduce employment.
• B) The minimum wage should be increased.
• C) Social justice will be served by increasing the minimum wage.
• D) Thoughtful people oppose an increase in the minimum wage.

Understand the concept of undifferentiated and differentiated market approaches.

Recognize the importance of time management skills in sales success.

Appreciate the role of account segmentation and sales territory management.

Identify how sales expense management can influence sales success.

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Definitions:

Balance Sheet

Also known as a “statement of financial position”; reveals a company’s assets, liabilities and owner’s equity (net worth).

Financial Position

Refers to the status of an entity's assets, liabilities, and equity at a specific point in time, providing insight into its economic situation.

Petty Cash Fund

A small amount of cash on hand used for covering minor expenses, managed through a specific accounting methodology.

Cash

A medium of exchange in the form of coins and banknotes; used to purchase goods or services.