The Unit of Account Is Defined as

question 43

Multiple Choice

The unit of account is defined as

• A)the exchange of goods and services directly for other goods and services.
• B)barter.
• C)an object that is accepted in return for goods and services.
• D)an agreed upon measure for stating prices of goods and services.
• E)the medium of exchange.

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Definitions:

Customer Retention

Strategies and actions taken by a company to keep its customers doing business with it over time, thus reducing customer defections or churn.

Comcast

An American telecommunications conglomerate that is one of the largest broadcasting and cable television companies in the world, offering services such as video, high-speed internet, and phone over its cable networks.

Moral Hazard

A situation in policy and economics where one party is more inclined to take risks because the negative consequences of those risks will be borne, at least in part, by others.

Pre-contractual Problem

Issues that arise before a contract is finalized, often related to information asymmetry or negotiating terms.