ABC Stands For

question 1

Multiple Choice

ABC stands for:

• A) assuming basic competence.
• B) assuring best care.
• C) accounting-based compliance.
• D) activity-based costing.

---

Definitions:

Aggregate Supply

The total supply of goods and services that firms in an economy plan on selling during a specific time period, at a given price level.

Capital Stock

The total amount of physical goods and financial assets that are used in the production of goods and services in an economy.

Aggregate Demand

The summed demand for goods and services across an economic milieu, set at a specific price level for a given time interval.

Aggregate Supply

Aggregate supply is the total supply of goods and services that firms in an economy plan on selling during a specific time period.