The Organisation Responsible for Controlling Risks and Promoting Competition and Efficiency

question 38

Multiple Choice

The organisation responsible for controlling risks and promoting competition and efficiency in the payment system is:

• A)the Australian Payments Clearing Association
• B)Austraclear
• C)the Payments System Board
• D)the RBA's Payment Settlement Review Group
• E)SWIFT.

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Definitions:

Brand Names

Names given to products or services by companies to distinguish them from competitors.

Profit-maximizing Price

The price level at which a business can achieve the highest possible profits, given its cost structure and demand for its products.

Demand Curve

A graph that represents the relationship between the price of a good or service and the quantity demanded by consumers.

Cost Functions

Mathematical relationships expressing the cost of production as a function of the levels of various inputs.