Figure 9-6 -Refer to Figure 9-6.What Does the World Price for Wagons

question 14

Multiple Choice

Figure 9-6

-Refer to Figure 9-6.What does the world price for wagons represent

• A)demand for wagons from the rest of the world
• B)supply of wagons from the rest of the world
• C)the level of inefficiency in the domestic market caused by trade
• D)surplus in the domestic wagon market

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Definitions:

Journals

Recorded chronological entries that detail all the financial transactions of a business, used as the initial place of record.

Debit

An accounting entry that increases an asset or expense account, or decreases a liability or equity account.

Increase

An upward movement in quantity, value, or some measure of performance.

Revenues

Revenues refer to the income that a business generates from its normal business operations, typically from the sale of goods and services to customers.