Introduction of Cheques into the Payments System Reduced the Costs

question 68

Multiple Choice

Introduction of cheques into the payments system reduced the costs of exchanging goods and services. Another advantage of cheques is that ________.

• A) they provide convenient receipts for purchases
• B) they can never be stolen
• C) they are more widely accepted than currency
• D) the funds from a deposited cheque are available for use immediately

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Definitions:

Selected Markets

Specified segments of the broader market that a company chooses to target for its marketing efforts, products, or services.

Direct Exporting

The sale of products directly to customers or retailers in another country, without the involvement of intermediaries.

Increased Profits

A rise in the amount of net earnings gained from business operations after all costs have been subtracted.

Indirect Exporting

A form of exporting where a company sells its products to a third party, such as an export intermediary, who then sells the products in foreign markets.