In Advanced Economies

question 35

Multiple Choice

In advanced economies:

• A) both supply and demand tend to be homogeneous.
• B) producers and consumers are often separated in several ways.
• C) most firms specialize in producing and selling small amounts of a huge assortment of goods and services.
• D) exchange is aided by discrepancies of quantity and assortment.

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Definitions:

Directors

Members of a company's board responsible for making major policy and financial decisions, acting collectively in the best interests of the company and its shareholders.

Shareholders

Individuals or entities that own one or more shares of stock in a corporation, giving them ownership interests.

Articles Of Incorporation

A document that must be filed with a secretary of state to create a corporation. Usually, it includes the basic rights and responsibilities of the corporation and the shareholders.

Criminal Guilt

A legal status that results when an individual is found responsible for committing a crime, beyond a reasonable doubt.