Prices

question 99

Multiple Choice

Prices

• A)solve the problem of distribution of products among consumers.
• B)act as rationing devices.
• C)under laissez faire produce an efficient allocation of resources.
• D)do all of the above.

---

Definitions:

Receivables

Debts that customers have towards a firm for items or services that have been received or employed, yet remain unpaid.

Accounts Payable

Money owed by a company to its suppliers or vendors for products or services that have been received but not yet paid for.

Cost of Goods Sold

The direct expenses related to the production of goods sold by a business, including materials and labor costs.

Receivables

Amounts payable to a corporation by its clientele for goods or services that have been delivered or rendered, but are yet to be paid for.