The Erroneous Moving of an Entire Number One or More

question 219

True/False

The erroneous moving of an entire number one or more spaces to the right or left, such as writing $85 as $850, is called a transposition.

---

Definitions:

Profits

The financial gain achieved when the amount earned from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Concentration Ratios

Measures that indicate the extent to which a small number of firms occupy a large market share within an industry.

Covert Collusion

Secret or concealed agreements between firms to fix prices, limit production, or divide markets, in order to increase profits illegally.

Demand Curve

A graphical representation of the demand schedule showing the inverse relationship between price and quantity demanded.