A Group of Business People Are Having Coffee

question 107

Multiple Choice

A group of business people are having coffee. Which of the following quotations describes transactions costs?

• A)"The new production process we've installed uses less capital and labour than the old one."
• B)"The new assembly line has higher capital costs, but the fall in workers' hours has lowered overall costs."
• C)"The costs of per-unit production have fallen dramatically as we have increased the length of the production runs."
• D)"Despite the higher costs of negotiating the contracts, hiring the cleaning firm is much cheaper than using our own staff."
• E)"The computer servicing people we have hired work very well as an integrated problem-solving group."

Acknowledge the purpose and benefits of different life insurance policy options and adjustments.

Understand the distinction between term and permanent life insurance.

Grasp the concept and benefits of participating policies and policy dividends.

Recognize different types of life insurance policies and their features.