A Budget Where Managers Must Justify All Costs Based on Need

question 7

Multiple Choice

A budget where managers must justify all costs based on need is a(n)

• A)zero-base budget.
• B)participatory budget.
• C)continuous budget.
• D)incremental budget.

Understand the concept of comparative advantage in international trade.

Assess the effects of tariffs and quotas on international trade and government revenue.

Understand the interplay between domestic prices, world prices, and trade policies in determining market outcomes.

Calculate equilibrium prices and quantities in a market with and without trade.

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Definitions:

Socialized

Process by which individuals learn and adopt the norms, values, and behaviors appropriate to their society.

Gender Roles

The social and behavioral norms prescribed for individuals based on their perceived or actual gender in a given society.

Glans Penis

The head of the penile shaft.

Sexual Arousal

The physiological and psychological state of being stimulated or excited sexually, leading to physical and emotional responses.