Which Statement Best Describes the Three Types of Systems

question 59

Multiple Choice

Which statement best describes the three types of systems?

• A)An isolated system does not exchange energy or matter with its surroundings; a closed system exchanges only energy, but not matter with its surroundings; an open system exchanges both energy and matter with its surroundings.
• B)An isolated system does not exchange energy or matter with its surroundings; a closed system exchanges only matter, but not energy with its surroundings; an open system exchanges both energy and matter with its surroundings.
• C)An isolated system exchanges energy with its surroundings; a closed system exchanges only matter, but not energy with its surroundings; an open system exchanges both energy and matter with its surroundings.
• D)An isolated system exchanges energy with its surroundings; a closed system exchanges only energy, but not matter with its surroundings; an open system exchanges matter, but not energy with its surroundings.

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Definitions:

Equilibrium Price

The market price at which the quantity of goods supplied equals the quantity of goods demanded.

Minimize Losses

Minimizing losses involves implementing strategies and decisions that reduce the extent of financial loss or damage to the lowest possible level, often through risk management and careful planning.

Maximize Profits

The process by which a company seeks to achieve the highest possible financial gain from its operations and sales.

Break-even

The point at which total costs and total revenues are equal, meaning that there is no net loss or gain from the business activities.