Use the Following to Answer Questions: Table: Four Countries -(Table: Four Countries) Refer to the Table

question 13

Multiple Choice

Use the following to answer questions: Table: Four Countries $$\begin{array} { l l l l l l l l } \hline { \text { Country A } } && { \text { Country } B } && { \text { Country C } } && { \text { Country } D } \\\hline \text { Item } & \text { Dollar } & & \text { Dollar } & & \text { Dollar } & & \text { Dollar } \\& \text { Values } & \text { Item } & \text { Values } & \text { Item } & \text { Values } & \text { Item } & \text { Values } \\\hline \text { Exports } & \$ 287 \mathrm {~m} & \text { Exports } & \$ 451 \mathrm {~m} & \text { Exports } & \$ 717 \mathrm {~m} & \text { Exports } & \$ 132 \mathrm {~m} \\\text { Imports } & \$ 287 \mathrm {~m} & \text { Imports } & \$ 412 \mathrm {~m} & \text { Imports } & \$ 909 \mathrm {~m} & \text { Imports } & \$ 121 \mathrm {~m} \\\hline\end{array}$$
-(Table: Four Countries) Refer to the table. Which of these countries has a trade surplus?

• A) country A
• B) country C
• C) country A and country C
• D) country B and country D

Distinguish between the concepts of income effect and substitution effect.

Understand the supply curve and its relationship with price and quantity supplied.

Identify factors that cause shifts in the supply curve.

Describe the concept of market equilibrium and understand how market forces lead to changes in prices and quantities.

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Definitions:

Financial Distress

An instance wherein a business faces challenges or fails to satisfy its monetary debts to creditors.

Trade-off

The process of sacrificing one quality, quantity, or property to gain another.

Accounts Receivable

Money owed to a business by its clients for goods or services that have been delivered or used but not yet paid for.

Current Assets

Current assets include all assets that a company expects to convert into cash or use up within one business cycle, such as cash, inventory, and accounts receivable.