"First World" Was a Term Coined After World War II

question 37

Multiple Choice

"First World" was a term coined after World War II which referred to:

• A)the unknown nations (cultural entities)of indigenous peoples living within or across national state boundaries.
• B)the states that aligned with neither the democratic-industrial countries nor with the communist-socialist states.
• C)the Eastern bloc of the communist-socialist states.
• D)the bloc of democratic-industrial countries within the American influence sphere.
• E)the bloc of nations that had been colonial powers and wielded significant economic and political power.

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Definitions:

Prompt Payment Discount

A reduction in the amount due on a bill offered by a seller to encourage early payment by the buyer.

Operating Cycle

The total time it takes for a company to purchase inventory, sell the products, and collect the cash from the sales.

Cash Cycle

The period it takes for a company to convert its investments in inventory and other resources into cash flows from sales.

Inventory

The total amount of goods and materials held by a company intended for sale or production.