A Table or List of the Prices and the Corresponding

question 119

Multiple Choice

A table or list of the prices and the corresponding quantities demanded of a particular good is called a

• A) demand curve.
• B) demand schedule.
• C) supply curve.
• D) supply schedule.
• E) production possibilities schedule.

---

Definitions:

Beginning Inventory

The value of goods available for sale at the start of an accounting period, before any purchases or sales have occurred.

Net Income

The total profit of a company after all expenses and taxes have been subtracted from total revenue.

Purchases

The total amount spent on goods and services for the purpose of resale or use in production within a given accounting period.

Ending Inventory

The final amount of goods available for sale at the end of an accounting period, calculated by adding new purchases to beginning inventory and subtracting the goods sold.