The Japanese Creation Myth

question 100

Multiple Choice

The Japanese creation myth

• A)was identical to that of the ancient Sumerians.
• B)stated that Kusaka and his daughter Krishnu had created the earth in two days and established Japan two months later.
• C)involved the marriage of the god Izanagi and the goddess Izanami.
• D)was discarded during the Heian period.
• E)involved a great flood, similar to the stories of Gilgamesh and Noah.

Identify the impact of factor prices on the market supply curve in the long term.

Understand the concept of a constant cost industry and its characteristics.

Explain the effects of short-run profit on market dynamics and long-run equilibrium in price-taker industries.

Analyze the impact of changes in demand and supply on market prices and output in the short and long run.

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Definitions:

IFRS

International Financial Reporting Standards, a set of global accounting standards for financial reporting.

GAAP

A set of widely followed rules and standards in financial reporting, termed Generally Accepted Accounting Principles.

Factoring Transaction

A financial arrangement where a business sells its accounts receivable to a third party at a discount to raise immediate capital.

Sales Returns

Transactions where customers return previously purchased merchandise for a refund or credit.