A Perfectly Elastic Demand Would Imply What Kind of Demand

question 81

Multiple Choice

A perfectly elastic demand would imply what kind of demand curve?

• A) horizontal
• B) vertical
• C) upward sloping
• D) downward sloping

Recognize the reasons why businesses expand into international markets.

Identify the various strategies for entering international markets, including importing, exporting, global sourcing, and licensing.

Appreciate the role of cultural awareness and global management skills in international business.

Understand the economic and job impacts of international business practices, such as insourcing and global sourcing.

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Definitions:

Deposits in Transit

Deposits in Transit are amounts that have been received and recorded by a business but not yet reflected in its bank statement.

Bank Statement

A summary of financial transactions that have occurred over a period of time in an account held by a person or business with a financial institution.

Cash Account

A financial account that tracks the flow of cash transactions, including receipts and payments, within a company.

Sales Discounts

Reductions in the sale price offered by a seller as an incentive for prompt payment by the buyer.