Listed Below Are Five Terms Followed by a List of Phrases

question 60

Multiple Choice

Listed below are five terms followed by a list of phrases that describe or characterize the terms.Match each phrase with the best term placing the letter designating the term in the space provided.
-_____ Companies that purchase inventories that are primarily in finished form for resale to customers.

• A)Work-in-process inventory
• B)Merchandising companies
• C)Finished goods
• D)Raw materials
• E)Manufacturing companies

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Definitions:

Consumer Surplus

Describes the difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.

Action Figures

Small figures of characters from movies, comics, or video games, often collectible and targeted towards fans and collectors.

Consumer Surplus

is the difference between the maximum price a consumer is willing to pay for a good or service and the actual price they pay.

Scented Candles

Candles infused with fragrance or essential oils that are used for aromatherapy or to create a pleasant atmosphere.