Keith Went into a Store to Return a Shirt

question 137

True/False

Keith went into a store to return a shirt. The owner of the store replied that she needed Keith's address and phone number to refund his money. After providing his information Keith asked what the information was needed for, but the owner of the store would not tell him. The owner's actions are in direct violation of The Competition Act.

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Definitions:

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.

International Trade

The exchange of goods and services between countries.

Current Account

An account of a country’s exports and imports of goods, services, and income.

Balance of Trade

The difference between the monetary value of a nation's exports and imports over a certain period. A positive balance means more goods were exported than imported, and vice versa.