The Mode of Exchange That Requires Some Form of Centralized

question 21

Multiple Choice

The mode of exchange that requires some form of centralized social organization to receive economic contributions from all members of the group and to allocate them in such a way as to provide for every member of the group is called

• A) reciprocity.
• B) redistribution.
• C) market exchange.
• D) mode of production.

---

Definitions:

Amortization

The process of gradually writing off the initial cost of an intangible asset over a period of time reflective of its useful life.

Depreciation

The distribution of a physical asset's cost across its lifespan, representing its diminishing value as time passes.

Accumulated Depreciation

Is the total depreciation of a company's fixed assets up to a specified time, reflecting how much of the asset's value has been used up.

Initial Cost

The original expense incurred to purchase an asset or the cost associated with starting a project.