If Sales = $45 000,purchases = $25 000,beginning Inventory =

question 4

Multiple Choice

If sales = $45 000,purchases = $25 000,beginning inventory = $10 000 and ending inventory = $8000 gross profit is:

• A)$18 000
• B)$27 000
• C)$7000
• D)$20 000

---

Definitions:

Diplomatic Expertise

The skill and knowledge required to manage international relations and negotiate effectively on behalf of a state.

Differences in Tastes

Variations in consumer preferences that influence demand for products and services across different markets or demographics.

Resource Endowments

The natural resources, labor force, capital, and technology that a country possesses, which influence its economic potential.

Trade Gains

The benefits that countries receive from engaging in international trade, often leading to more efficient production and a greater variety of goods and services.