Tradability Refers to the Idea That

question 62

Multiple Choice

Tradability refers to the idea that

• A)some products or services are almost impossible to export or import.
• B)some goods have to be produced where they are consumed: eating a meal in a restaurant would be a good example.
• C)a and b both illustrate the idea of tradability.
• D)all other answers are wrong; tradability simply means the shipping cost as a percentage of the sales price.

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Definitions:

Perpetual Inventory System

An accounting method that continuously updates inventory records for purchases and sales in real-time.

Merchandise On Hand

The inventory of goods that a retailer has available for sale at any given time.

Trade Discounts

Reductions from the list price of goods or services provided by a seller to a buyer in a commercial transaction.

Wholesaler

An entity that buys goods in large quantities from manufacturers or distributors and sells them to retailers or other businesses.