Fact Pattern 20-1 (Questions 14-16 Apply)

question 26

Multiple Choice

Fact Pattern 20-1 (Questions 14-16 apply)
Excel Vehicles, Inc., makes and sells automobiles to auto dealers, including Fine Auto Sales. Fine sells the cars to consumers and businesses.
-Refer to Fact Pattern 20-1.Holly,a professional driver,buys an Excel from Fine to drive in a Grand Prix race.Holly's Excel is

• A) a consumer good.
• B) an accession.
• C) equipment.
• D) inventory.

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Definitions:

Restaurants

Establishments where meals are prepared and served to customers.

Fast Food Chains

A series of restaurants serving quick, easily prepared, and served food items, often through standardized menus and methods across multiple locations.

Long-run Equilibrium

A state in economics where supply equals demand, and all markets clear, resulting in an efficient allocation of resources over time.

Price

The financial cost or valuation of a goods or service, expressed as the amount of currency needed to acquire it.