A Recent Direct Quote for the British Pound Was $1

question 152

Multiple Choice

A recent direct quote for the British pound was $1.5547. The pound's indirect quote is:

• A)£1.5547.
• B)$0.6432.
• C)£1.1979.
• D)£0.6432.

---

Definitions:

Dominant Firms

Companies that have a major share of sales in a specific market, significantly influencing that market's dynamics.

New Firms

Newly established businesses entering the market, often bringing innovation or increasing competition in their industry segment.

Creative Destruction

A concept in economics where new innovation leads to the obliteration of older industries or ways of doing things, driving economic development.

Concentrated Industries

Industries where a few companies dominate the market share, resulting in less competition and potentially higher prices for consumers.