Industrial, commercial and direct services are branches of
manufacturing
occupation
exchange
distribution
specialization
Correct answer is B
No explanation has been provided for this answer.
When a company buys up firms supplying it with raw materials, this is an example of
horizontal integration
a holding company
backward integration
consortium
lateral merger
Correct answer is C
No explanation has been provided for this answer.
trade gap
balance of trade
balance of payments
current account balance
terms of trade
Correct answer is C
No explanation has been provided for this answer.
Which of the following is not the duty of an entrepreneur?
provision of inital capital
Bearing of risks
Organization of other factors of production
Decision on what to produce
Decision on the amount of tax to pay
Correct answer is E
No explanation has been provided for this answer.
An undertaking given by a person to another assuring his integrity is
proximate cause
fidelity guarantee
subrogation
insurable interest
Correct answer is B
fidelity guarantee; an undertaking to answer for the payment or performance of another person's debt or obligation in the event of a default by the person primarily responsible for it.