Which Type(s)of Economies Interact with Other Economies

question 1

Multiple Choice

Which type(s) of economies interact with other economies?

• A)only closed economies
• B)only open economies
• C)closed economies and open economies
• D)neither closed nor open economies

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Definitions:

Taxable Income

Taxable income is the amount of income that is subject to income tax, after deductions and exemptions.

Percent

A method of representing a number as a part of 100.

Straight Commission

A compensation method where an employee or salesperson is paid solely based on the amount of sales generated.

Annual Quota

An annual quota is a fixed limit on the quantity of something that can be produced, imported, or acquired within a single year.