Samuel Jackson Has Developed a Budget That He Follows Each

question 79

Multiple Choice

Samuel Jackson has developed a budget that he follows each month.This is a budget that he keeps in his head.He does not write anything down,nor does he use a computer to keep track of this budget.What type of budget has Samuel created?

• A)mental budget
• B)physical budget
• C)written budget
• D)computerized budget
• E)none of the above

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Definitions:

Profits

The financial gain made in a transaction or the operation of a business after deducting all expenses.

Pure Monopoly

A market structure where a single seller controls the entire market for a particular good or service, with no close substitutes.

Fair-return Price

A price that allows a company to cover its costs and make a reasonable profit.

Short Run

A period in economics where at least one input is considered fixed in the production process.