Mountain Mining Company,a U

question 21

Multiple Choice

Mountain Mining Company,a U.S.firm,owns property in Bolivia.The government of Bolivia seizes the property for an illegal purpose without paying just compensation.This is

• A)confiscation.
• B)defalcation.
• C)dumping.
• D)expropriation.

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Definitions:

Resources

A broad term for the assets, materials, and inputs used to produce goods and services, including natural, human, and capital resources.

Variable Cost

A cost that changes in proportion to the level of activity or volume of output in a business.

Wages

Payments made to workers for their labor, usually calculated on an hourly, daily, or piecework basis.

Salaries

Salaries refer to the regular payments made by employers to employees, typically on a monthly or bi-weekly basis, in exchange for their labor or services.