Match Each Term to Its Definition

question 130

Multiple Choice

Match each term to its definition.
-Compatibility

• A)Can accommodate changes in the business over time.
• B)Provides information that will improve decision making and reduce uncertainty.
• C)Benefits received outweigh the cost of the system.
• D)Works smoothly with the business's employees and organization structure.
• E)Provides safeguards for a business's assets and reduces the likelihood of fraud and errors.

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Definitions:

Free Markets

Economic systems in which the prices for goods and services are determined by the open market and consumers, in which the laws and forces of supply and demand are free from any intervention by a government, price-setting monopoly, or other authority.

Joseph Stiglitz

An American economist and professor known for his work on income distribution, risk, and information economics, and a recipient of the Nobel Memorial Prize in Economic Sciences.

NAFTA Treaty

The North American Free Trade Agreement, a treaty among the United States, Canada, and Mexico designed to remove tariff barriers between the three countries and facilitate the free flow of goods and services.

Trade Balance

The difference between a country's exports and imports over a certain period, indicating the net earnings from trade.