The Business Had Been in Operation for Five Years

question 234

Multiple Choice

The business had been in operation for five years. 
Which of the following defines "operation" as used in the sentence above?

• A)Having a noticeable effect upon
• B)Controlling a machine or piece of equipment
• C)Cutting the body for a medical procedure
• D)Working in a normal way

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Definitions:

Supply Elastic

Relates to how much the quantity supplied of a good changes in response to changes in its price.

Recession

An economic downturn marked by a significant decline in activity across the economy, lasting more than a few months.

Demand Decline

A situation where the desire or willingness of consumers to purchase a particular good or service decreases over time.

Elastic Demand

A situation where the quantity demanded of a product changes significantly when its price changes.