Select the Appropriate Definition for Each of the Items Listed

question 95

Multiple Choice

Select the appropriate definition for each of the items listed below.
-The ratio of sales to average operating assets.

• A)Turnover
• B)Margin
• C)ROI
• D)Residual income

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Definitions:

Specialize

The process of focusing efforts and resources on a narrow area of expertise or production to increase efficiency and proficiency.

Comparative Advantage

The ability of a country, company, or individual to produce a good or service at a lower opportunity cost than competitors.

Autarky

An economic policy or situation in which a country is self-sufficient and does not engage in international trade.

Cattle

Large domesticated bovines raised for their meat, milk, or hides, but in economic context, it broadly relates to agricultural commodities.