The Terms Target, Instrumentality, Incidental and Associated from Carter's Taxonomy

question 19

Multiple Choice

The terms target, instrumentality, incidental and associated from Carter's taxonomy are most closely associated with which form of risk from Brown's taxonomy?

• A)Human error
• B)Liquidity
• C)Systems
• D)Market

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Definitions:

Average Revenue Curve

A graphical representation showing how the average revenue per unit sold changes with changes in the quantity of the product sold.

Marginal Revenue Curve

A graphical representation showing the additional revenue a firm can earn by selling one more unit of a good or service.

Marginal Profit

The additional profit earned from selling one more unit of a product or service.

Marginal Revenue

The incremental profit made from the sale of an additional unit of a good or service.