How Does an Initialism Differ from an Acronym

question 116

Multiple Choice

How does an initialism differ from an acronym?

• A) An initialism is more likely to be misinterpreted than an acronym because it can have more than one meaning.
• B) The individual letters are pronounced in an initialism rather than being read as a word like an acronym.
• C) An initialism includes periods between the letters in the abbreviation while an acronym does not include periods.
• D) Initialisms are frowned upon by the Institute for Safe Medical Practices while acronyms are acceptable to this group.

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Definitions:

Quantity Demanded

The cumulative quantity of a product or service that buyers are ready and capable of buying at a certain price during a defined timeframe.

Quantity Supplied

The amount of a certain good or service that producers are willing and able to sell at a specific price.

Individual Supply Curves

Graphical representations showing the relationship between the price of a good and the quantity of the good a seller is willing to supply, holding all else constant.

Market Supply Curve

A graphical representation showing the relationship between the price of a good and the total output of the industry.