Which of the following best explains what a futures contract is?
O A. A contract setting the price for the exchange of two foreign
currencies.
O B. A contract setting the price and date for a commodity purchase.
O C. A contract limiting the future liability of one set of partners if a
business fails.
D. A contract preventing the future sale or exchange of a particular
good.
Answers: 3
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Which of the following best explains how trade enables greater specialization among producers? a. trade diversifies the market by bringing specialized goods from around the world. b. trade requires distribution networks and adds one more step to the production process. c. trade enables producers to open up new markets for their goods and services. d. trade allows people to focus on one kind of production and trade for their other needs.
Answers: 1
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You work as the sales manager for a company that sells office supplies to businesses of all sizes. because the profit margins are razor-thin, you need to ensure that you are getting the very best prices on paper, pencils, pens, post-it notes, and other office supplies from the manufacturers. when reviewing the quarterly profit statement, you realize that your costs are higher than they should be, and you trace the higher costs back to an employee who has been lax about getting competitive bids to ensure the lowest prices. when you conduct your research to determine the reason for the higher costs, and take action to bring those costs back down, in which of the key management processes are you taking part?
Answers: 3
Which of the following best explains what a futures contract is?
O A. A contract setting the price...
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