Ratio of Population Per Branch Is Calculated As

question 69

Multiple Choice

Ratio of population per branch is calculated as:

• A)total population in the area to be served divided by number of branch offices present in the area.
• B)total population in the state divided by number of branch offices present in the area.
• C)total population in the state divided by number of branch expected to be opened in next one year.
• D)total population in the area to be served divided by number of employees hired for the new branch office.
• E)None of the options are correct

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Definitions:

Gentlemen's Agreements

Informal, non-binding agreements between parties based on honor and not legally enforceable.

Formal Cartels

An agreement among competing firms to control prices, production, and market distribution, which is often illegal.

Cartel

An association of manufacturers or suppliers that maintains prices at a high level by restricting competition and output.

Elasticity of Demand

A measure of how responsive the quantity demanded of a good or service is to a change in its price, indicating how changes in price influence consumer purchasing behavior.