The Location on an Exchange Floor Where a Particular Security

question 18

Multiple Choice

The location on an exchange floor where a particular security trades is called a(n) :

• A) specialist's post.
• B) broker's terminal.
• C) floor spot.
• D) exchange spot.
• E) market pit.

---

Definitions:

Explicit Costs

Direct, out-of-pocket payments for expenses incurred in conducting business, such as rent, salaries, and materials.

Economic Profits

The disparity between the amount a business earns in total and the sum of its outright and inferred expenses.

Explicit Costs

Direct, out-of-pocket payments for goods and services that are used in the production of other goods and services.

Implicit Costs

The opportunity costs of using resources that a firm already owns, not involving direct monetary payment.