Bartering Is a Form of Compensation That Is Still Used

question 83

Multiple Choice

Bartering is a form of compensation that is still used by some countries and organizations and is an example of the__________ environmental factor.

• A) culture
• B) security
• C) geography
• D) economic
• E) infrastructure

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Definitions:

Marginal Cost

The additional expenditure involved in producing one additional unit of a good or service.

Product X

A placeholder name typically used in economics and marketing to represent a generic product under consideration.

Resource Allocation

The process of assigning and distributing available resources to various uses in an economy, often in order to maximize efficiency or achieve a desired outcome.

Production Possibilities Curve

A graph that shows the maximum number of possible units a company can produce if it only produces two types of goods given a fixed amount of resources.