The Person Who Buys an Automobile for Personal Use or the Guest

question 30

Multiple Choice

The person who buys an automobile for personal use or the guest who registers at a hotel is considered an ultimate purchaser and is more precisely referred to as a (n) _____.

• A)beneficiary
• B)first contact
• C)consumer
• D)prosumer

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Definitions:

Offshoring

The practice of moving a part of a company's operations or business processes to another country to reduce costs or take advantage of favorable conditions.

Trade Adjustment Assistance

A federal program that provides aid to workers who lose their jobs or whose hours and wages are reduced as a result of increased imports.

Aggregate Demand

The total demand for all goods and services within an economy at a given overall price level and in a given time period.

Protectionism

A policy of imposing restrictions on imports, often through tariffs and quotas, to shield domestic industries from foreign competition.