A Member of the Board Who Also Serves as an Officer

question 57

Multiple Choice

A member of the board who also serves as an officer is a(n) __________ director.

• A) inside
• B) interested
• C) outside
• D) employed

---

Definitions:

Domestic Price

The price of goods or services within a country's borders, distinct from international or foreign prices.

World Price

The global market price of a good or service, influenced by worldwide demand and supply.

Tariff

A tax imposed by a government on goods and services imported from other countries, often used to protect domestic industries from foreign competition.

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount they receive, reflecting profits.