The Demand for Corn Increases

question 140

Multiple Choice

The demand for corn increases. As a result, the price of corn will ________, and the less elastic the supply of corn, the ________ will be the effect on the price.

• A) fall; smaller
• B) fall; greater
• C) rise; smaller
• D) rise; greater

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Definitions:

Factoring

A financial transaction where a business sells its accounts receivable to a third party at a discount to immediately generate cash.

Authenticating

The process of verifying the identity of a user or device, often as a part of securing access to systems and information.

Securing Payment

Methods or practices involved in ensuring that payments for goods or services are received in a timely and secure manner, including through contracts, guarantees, or electronic means.

Business-to-Business (B2B)

transactions or relations conducted directly between companies rather than between companies and individual consumers.