Price Tags Attached to Goods for Purchase at a Store

question 42

Multiple Choice

Price tags attached to goods for purchase at a store would be an example of money's role as a

• A)medium of exchange.
• B)store of value.
• C)unit of account.
• D)store of wealth.
• E)standard of deferred payment.

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Definitions:

Extra Value Meal

A marketing offer by fast-food restaurants where a combination of items is sold together at a reduced price, compared to buying each item separately.

Profit Equation

Profit = Total revenue − Total cost; or Profit = (Unit price × Quantity sold) − (Fixed cost + Variable cost).

Total Revenue

the overall income generated by a business from its operations, before any expenses are deducted.

Total Cost

The complete cost of producing or acquiring a product or service, including all direct and indirect expenses.