Which is NOT an essential element of an ordinary annuity ? Show
A. The amounts of all payments are equal. B. The payments are made at equal interval of time. C. The first payment is made at the beginning of the first period. D. Compound interest is paid on all amounts in the annuity.
29.Theseareproductsorservicesthatarerequired to support human life and activities, thatwill be purchased in somewhat the same quantityeven though the price varies considerably.a. Utilitiesb. Necessitiesc. Luxuriesd.Product goods and services We have textbook solutions for you! The document you are viewing contains questions related to this textbook. South-Western Federal Taxation 2020: Corporations, Partnerships, Estates and Trusts Raabe/Young/Nellen/Hoffman Expert Verified 30.Aconditionwhereonlyfewindividualsproduce a certain product and that any action ofone will lead to almost the same action of theothers.a. Oligopolyb. Semi-monopolyc. Monopolyd.Perfect competition 30.Aconditionwhereonlyfewindividualsproduce a certain productand that any action ofone will lead to almost the same action of theothers.a. Oligopolyb. Semi-monopolyc. Monopolyd.Perfect competition 31. GATT stands for:a.General Agreement of Tariff and Tradeb.General Arrangement of Tariff and Tradec.Global Agreement of Tariff and Traded.General Arrangement of Tariff and Trade 31.GATTstands for:a.General Agreement of Tariff and Tradeb.General Arrangement of Tariff and Tradec.Global Agreement of Tariff and Traded.General Arrangement of Tariff and Trade 32.“Whenone of the factors or production isfixedinquantityorisdifficulttoincrease,increasing the other factors of production willresult in a less than proportionate increase inoutput”.a.Law of diminishing returnb.Law of Supplyc.Law of Demandd.Law of Supply and Demand 32.“Whenone of the factors or production isfixedinquantityorisdifficulttoincrease,increasing the other factors of production willresult in a lessthan proportionate increase inoutput”.a.Law of diminishing returnb.Law of Supplyc.Law of Demandd.Law of Supply and Demand 33.“Whenfree competition exists, the price of aproduct will be that value where supply is equal tothedemand”.a.Law of diminishing returnb.Law of Supplyc.Law of Demandd.Law of Supply and Demand 33.“Whenfree competition exists, the price of aproduct will be thatvalue where supply is equal tothe demand”.a.Law of diminishing returnb.Law of Supplyc.Law of Demandd.Law of Supply and Demand 34. The quantity of a certain commodity that isbought at a certain price at a given time and place.a. Demandb. Supplyc. Marketd. Utility 34. Thequantity of a certain commodity that isbought at a certain priceat a given time and place.a. Demandb. Supplyc. Marketd. Utility Upload your study docs or become a Course Hero member to access this document Upload your study docs or become a Course Hero member to access this document End of preview. Want to read all 701 pages? Upload your study docs or become a Course Hero member to access this document We have textbook solutions for you!The document you are viewing contains questions related to this textbook. The document you are viewing contains questions related to this textbook. South-Western Federal Taxation 2020: Corporations, Partnerships, Estates and Trusts Raabe/Young/Nellen/Hoffman Expert Verified What refers to the goods and services that are required to support human life needs and activities a producer products B consumer products C luxury D necessity?Necessity goods are product and services that consumers will buy regardless of the changes in their income levels, therefore making these products less sensitive to income change. They are necessity for life.
What refers to the goods and services that are desired by human and will be acquired only after all the need have been satisfied?Luxuries are those goods and services that are desired by human and will be acquired only after all the necessities have been satisfied.
What is the meaning of goods and services?A good is a tangible item that consumers desire or own. A service is not a tangible or physical entity but is still sought after by consumers. Often, a service can also be performed at a distance. Together the term goods and services refers to what consumers are consuming and spending money on.
What are the two classifications of goods and services?Goods and services can be classified into two basic categories, i.e., free goods and Economic goods.
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What refer to the goods and services that are required to support human life needs and activities?
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