A POS Terminal Is an Electronic Computer Terminal Located at a Store

question 46

Multiple Choice

A POS terminal is an electronic computer terminal located at a store or other merchant location that allows the customer to

• A)use a personal check.
• B)make a cash withdrawal.
• C)get a cash advance.
• D)make purchases.

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Definitions:

Average Variable Cost

Refers to the total variable costs (costs that change with production volume) divided by the quantity of output produced.

Production Decision

The process of determining what goods or services to produce, how much to produce, and how production resources are allocated.

Losses

Occurs when a company's expenses exceed its revenues during a specific period.

Competitive Price-Taker

A competitive price-taker is a firm or individual that has no control over market prices and must accept the prevailing market price as is.