Match Each of the Following Terms with the Appropriate Definitions

question 17

Multiple Choice

Match each of the following terms with the appropriate definitions.
-Obligations of a company requiring payment in more than one year or operating cycle.

• A)Long-term liability
• B)Warranty
• C)FUTA taxes
• D)FICA taxes
• E)Contingent liability
• F)Net pay
• G)Withholding allowance
• H)Estimated liability
• I)Merit rating
• J)Wage bracket withholding table

Identify the conditions necessary for a market to achieve allocative efficiency.

Explain the concept of efficiency loss (deadweight loss) and its causes in a market.

Distinguish between positive and negative externalities and their impact on social welfare.

Describe the role of consumer and producer surplus in determining market efficiency.

---

Definitions:

Internet-Based Information

Information that is accessible over the internet, encompassing all types of data available online.

Wireless Connectivity

A method for devices to connect and communicate with each other or the internet without physical wires, using radio waves.

Ethernet Network

A widely used local area network (LAN) technology that connects devices in a network, using a system of wired connection for data transmission.

Authentication Servers

Servers dedicated to verifying the identity of users or devices, ensuring that only authorized entities can access certain networks or services.