The Pontiac Assembly factory aims to produce 1 truck for the military, given a production function f(L,K) = 1L¹²K²¹. The wage rate for labor is $6 and the rental rate for capital is $7. The questions ask for the smallest amount of labor needed to meet the production target (Lo), the marginal product of capital at that labor level, the technical rate of substitution between labor and capital, and the optimal labor input to maximize profit when the market price for a truck is $60.
To determine the smallest amount of labor required to meet the production target of 1 truck, we need to set the production function equal to 1 and solve for labor (L). With f(L,K) = 1L¹²K²¹ and K fixed at 3 units, we can calculate the minimum labor input (Lo) by substituting the values into the production function.
The marginal product of capital (MPK) at the labor input of Lo can be obtained by taking the partial derivative of the production function with respect to capital (K) while holding labor (L) constant. This will give us the additional output generated from each additional unit of capital at the given labor level.
The technical rate of substitution (TRS) between labor (L) and capital (K) at the labor input of Lo is determined by taking the ratio of the marginal product of labor (MPL) to the marginal product of capital (MPK) at that labor level. TRS represents the rate at which labor can be substituted for capital while maintaining a constant level of output.
To maximize profit, the Pontiac Assembly firm needs to determine the optimal labor input that maximizes the difference between revenue and cost. The profit function can be expressed as the difference between total revenue (market price times quantity produced) and total cost (the sum of labor cost and fixed capital cost). By differentiating the profit function with respect to labor and setting it equal to zero, we can find the labor input that maximizes profit.
We can analyze the labor requirement, capital productivity, the substitution relationship between labor and capital, and the profit-maximizing labor input for the Pontiac Assembly factory in producing trucks for the military.
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Does Ireland have an absolute or comparative trade advantage
I would say it would be a comparative trade advantage.
----------------------------------------
Ireland has a comparative advantage in cheese and butter due to climate and a large amount of land suitable for dairy cows.
Ireland has an established comparative advantage in producing grass-based milk and meat which provides cost and food efficacy advantages at a global level.
----------------------------------------
Hope this helps!
Have a great day and God bless! :)
Answer:
comparative advantage
Explanation:
i looked it up
#1 You are driving down the highway when one of your tires suddenly blows out. You should
Pump your brakes rapidly, and steer your vehicle to control any skids.
Avoid using your brakes. Slow down gradually and concentrate on steering.
Press hard on your brake pedal and stop as quickly as you can.
Records that should be kept on each shareholder with reasons why.
Answer:
minutes of board and committee meetings.
written communications with shareholders, including emails.
resolutions.
certificates issued by directors.
copies of all financial statements.
a record of the assets and liabilities of the company.
Explanation: points
True or False: Strip malls are usually climate controlled.
Answer: false
Explanation:
That’s the correct answer
The Strip malls are usually not the climate controlled, as it is the cause of the global warming.
What is the strip mall?Strip mall is also called the strip center or strip plaza. This type of mall is basically the common shopping center in North America. In which the stores are arranged in a well-defined row, consisting of the sidewalk in their front.
It is not the climate controlled because these malls contribute to the global warming indirectly pollute the environment, as the energy generators causes the green house gases.
Therefore, the given statement is false.
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There are many countries trying to develop a competitive advantage in different industries. A recent one in the news is Saudi Arabia, which is making very large investments in its so-called vision 2030 plan. The Saudi government is targeting the economic sectors of logistics, energy, mining, and what it just calls industry. Which of these sectors do you think by using Porter's Diamond Model is most likely to succeed in Saudi Arabia?
According to Porter's Diamond Model, the four factors that determine a country's competitive advantage in an industry are: factor conditions, demand conditions, related and supporting industries, and firm strategy, structure, and rivalry. Let's analyze each sector based on these factors:
1. Logistics: Saudi Arabia has a strategic geographical location that connects Europe, Asia, and Africa, making it a potential logistics hub. Factor conditions such as infrastructure, port facilities, and skilled workforce play a crucial role in the development of this sector. 2. Energy: As a leading oil-producing country, Saudi Arabia has abundant natural resources and factor conditions to support the energy sector. However, the country is also investing in renewable energy to diversify its energy sources, driven by demand conditions for clean energy. 3. Mining: Saudi Arabia is rich in minerals, such as gold, copper, and phosphate. The availability of these resources provides a strong foundation for the mining industry. However, the development of related and supporting industries, such as processing facilities, is crucial for this sector's growth. 4. Industry: This broad term could include various manufacturing and processing sectors. Saudi Arabia has been investing in petrochemicals, metals, and automotive industries, among others. Success in these industries depends on the availability of skilled labor, technology, and supporting industries.
Based on Porter's Diamond Model, I think the energy sector is most likely to succeed in Saudi Arabia due to the country's abundant natural resources and existing expertise in oil production. However, success in other sectors like logistics and mining is also possible with the right investments in infrastructure, supporting industries, and human capital development.
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Do you think president Biden should give reparations?
How much less would Maria have to spend to have $100 per month available for saving?
The savings instrument that could help Maria reach her goal are a regular saving accounts and a money market account with a $100 minimum deposit. The correct options are b and d.
What is money market account?The term money market account refers to an interest-bearing account at a bank or credit union. Sometimes referred to as money market deposit accounts, money market accounts have some features that are not found in other types of accounts. Most money market accounts pay a higher interest rate than regular savings accounts and often include check-writing and debit card privileges. They may also come with restrictions that make them less flexible than a regular checking account.
They are important for calculating tangible net worth.
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Maria deposits her paycheck each week in a checking account. She plans to buy a car in the next year, so she decides to start saving $100 each month to pay for it. She does not want to have to remember to make that deposit each month. What savings instruments could help Maria reach her goal? Check all that apply. Series I savings bon Series EE savings bonds a regular savings account a 24-month certificate of deposit a money market account with a $100 minimum deposit
Place the steps to creating a budget in order:
Figure out your net income.
Make a list of fixed expenses
Make a list of variable expenses.
Adjust expenses as needed
Determine if you have enough income to cover all your expenses.
Answer:
1. Figure out your net income
2. Determine if you have enough income to cover all your expenses
3. make list of variable expense
4. make list of fixed expenses
5. adjust expense
done !
the cost of capital depends primarily on the blank______ of funds, not the blank______.
The cost of capital depends primarily on the source of funds, not the use of funds.
The cost of capital depends primarily on the source of funds, not the use of funds. To explain further, the cost of capital is the rate of return that a company needs to earn in order to satisfy its investors or lenders. The source of funds can come from equity (e.g. stocks), debt (e.g. bonds), or a combination of both. Each source of funds has its own cost associated with it, such as interest payments on debt or dividend payments on equity. Therefore, the mix of equity and debt financing a company uses will affect its overall cost of capital. On the other hand, the use of funds refers to how a company invests its capital, such as in new projects or acquisitions. While the use of funds can impact a company's profitability, it does not have a direct impact on the cost of capital.
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The North Face is available across Canada, and in parts of Europe, Latin America, and Asia. Would the inflation calculator from the Bureau of Labor Statistics work to calculate the historical price of that same North Face jacket in other countries? Why or why not? Do some online research to support your answer.
Inflation calculator calculates the rate of ups and down in an economy caused due to the inflation rates persisting according to the labor bureau statistics.
Online Research often gives proof how inflation is caused due to the demand and supply in the economy. Statistics also measure the terms if the demand is less and the supply is more eventually in the market the inflation will increase.
The price of the north face jacket in other countries would eventually depend upon the demand supply situation in the economy market and has no dependence on the historical price.
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To minimize losses to consumer surplus, protection for infant industries should be provided through: 1) subsidies. 2) quotas. 3) tariffs. 4) an overvalued exchange rate.
To minimize losses to consumer surplus, protection for infant industries should be provided through subsidies. This is because subsidies allow the industry to produce goods at a lower cost, which in turn makes them more competitive in the market. The correct option is 1) .
However, it is important to note that subsidies must be used in moderation and only for a limited time to avoid creating a dependency on government support. Additionally, subsidies can lead to inefficiencies and may distort the market by favoring certain industries over others. Therefore, it is crucial to strike a balance between protecting infant industries and promoting competition and consumer welfare. In contrast, quotas and tariffs may limit competition and result in higher prices for consumers, while an overvalued exchange rate may lead to inflation and a decrease in the competitiveness of the industry. Overall, subsidies can be an effective tool for protecting infant industries, but they must be implemented with caution and in conjunction with other policies that promote a level playing field for all industries .
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Which of the following is an example of the U.S. agreeing to allow imports from selected countries at the lowest
custom duty rates?
A free-trade zone
A most-favored nation status
A common market
A free trade agreement
The Free Trade Agreement of the U.S. is an example of the US agreeing to reduce barriers to imports and exports by lowering tarries. The correct answer thus is D.
What is an example of a Free Trade Agreement?The agreement between the U.S. and Mexico and Canada are examples of the Free Trade Agreement.
The agreement described above is called North American Free Trade Agreement (NAFTA)
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plz help!!! ill mark brainliest hurryyyy
Write a storyline in work environment that apples (3) employability skills to be a productive and positive employee.
Answer:
Storyline
Explanation:
You work in a hotel.
To be a productive and positive employee, there are a few must and must nots. Let's say that you work at the front desk. When your customer walks up to your desk, always make sure to greet them with the appropriate sayings. Ask directly what you can do to help them, and do it in a timely manner. If they are unsure or have any questions at all, make sure that they feel welcome to ask any questions.
Don't ask the customer inappropriate questions. such as;" What do you want?". Greet them nicely and treat your guests as your family.
To be a productive employee make sure you are on time as scheduled, do any assignments the day before and always show up with a smile.
2 Consider Figure 2.11. Undertake a similar exercise for different markets (e.g. Germany, United
States, China) and reflect on the implications of the brand positioning in terms of facilities and
services on board.
Brand positioning gives customers the reasons to buy one product over another.
How is branding important?It should be noted that brand positioning can be affected by aspects such ad style and, brand personality, customer types, and company reputation
A brand positioning statement is the description of your target market that includes a holistic picture of how you will like your brand to be perceived by customers.
You can use brand positioning to influence what a consumer thinks of your product or brand. Then the resulting consumer mental image has an impact on purchasing decisions.
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When an economy produces more smartphones and fewer cars, it is answering the?
When an economy produces more smartphones and fewer cars, it is answering the 'what' question.
What is an economy?
A complex system of linked trading, consumption, and production activities make up an economy, and it ultimately decides how resources are distributed among all the players. The requirements of persons who live and work inside the economy are met by the creation, consumption, and distribution of products and services. A country, a region, a single industry, or even a family may be represented by an economy. Every economy is different. Each is shaped by the resources, laws, cultures, histories, and geographies that are unique to it. Each change as a result of the individuals' decisions and behaviours. These choices are decided using a combination of collective or hierarchical decision-making and market transactions.
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The revenue recognition principle: a) Companies should account for the revenue when the obligations are partly fulfilled. b) The revenue is accrued when it is probable that the payment will not be received. c) Sales are accounted as soon as the sales contract is approved and signed by both parties. d) Companies account for the revenue when they transfer goods or services to the customer. e) Revenue is accounted independently from when the cash is paid.
The revenue recognition principle (option d) ensures that companies recognize revenue when they transfer goods or services to the customer, independently from when the cash is paid (option e).
The revenue recognition principle states that companies should account for revenue when they transfer goods or services to the customer (option d). This means that revenue is recognized when the company fulfills its obligations to the customer, regardless of when the cash is paid (option e).
To understand this principle, let's consider an example. Imagine a company sells a product to a customer and delivers it. According to the revenue recognition principle, the company should recognize the revenue at the moment the product is transferred to the customer, even if the customer has not yet paid for it. The company doesn't have to wait for payment to recognize the revenue because it has fulfilled its obligation of providing the product.
In conclusion, the revenue recognition principle (option d) ensures that companies recognize revenue when they transfer goods or services to the customer, independently from when the cash is paid (option e).
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what types of property sales are subject to sales tax, and why might a state choose to exclude the sales of certain types of property
The types of property sales that are subject to sales tax vary from state to state, but generally include tangible personal property such as furniture, electronics, clothing, and vehicles.
What is sales tax?Sales tax is a tax levied by the government on the sale of goods and services by a business to its customers. The tax is usually calculated as a percentage of the purchase price.
What is property sales?Property sales refer to the buying and selling of real estate or property, typically involving the transfer of ownership rights from one party to another in exchange for a purchase price or consideration.
According to the given information:
The types of property sales that are subject to sales tax vary from state to state, but generally include tangible personal property such as furniture, electronics, clothing, and vehicles. However, some states also include services such as landscaping, construction, and professional services. The reason a state might choose to exclude certain types of property from sales tax could be for a variety of reasons. For example, some states may exempt essential goods such as food, medicine, and clothing from sales tax to make them more affordable for low-income residents. States may also exclude property sales related to education or healthcare, as these services are considered necessary for the public good. Additionally, some states may exempt property sales related to agriculture or manufacturing to support local industries and encourage economic growth.
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The average price for a world series ticket in philadelphia has skyrocketed to more than?.
World Series tickets in Philadelphia value over $3,000 each—the second-highest worth during a decade. Rhys Hoskins of the Philadelphia Phillies reacts once defeating the city Padres.
In game 5 to win the National League Championship Series at voters Bank Park on Oct twenty-three, 2022, in Philadelphia, Pennsylvania.
Demand for playoff tickets in Philadelphia has driven their value to a historic high. The average worth of game tickets at voters Bank Park is among the best in major Baseball history.
Consistent with the Delaware News Journal, tickets to Philadelphia Phillies home games in their playoff tilt with the Houston Astros have reached a median value of over $3,200, the second-highest total in baseball history.
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In what seven (7) way can we promote good marriage in the society
Answer:
1.being loving
2bieng understanding
3being loy
Unit of account is the function of money: that provides a common measurement of the relative value of goods and services. that shows the acceptability of money in exchange for goods and services. that shows the portability of money. that shows the ability of money to hold value over time.
Answer:
a common measurement of the relative value of goods and services.
Explanation:
Money has three functions. they are :
1. Medium of exchange : this shows the acceptability of money in exchange for goods and services.
2. Store of value : that shows the ability of money to hold value over time.
3. Unit of account : a common measurement of the relative value of goods and services. money serves a means by which one can measure the value of goods and services. for example, if we are told the price of a shoe is $1,000 and the price of another shoe is $50. We know that the $1,000 is relatively more valuable when compared to the $50 shoes.
Violet and Lilly are hosting a grand opening for their local bakery shop. What is the best research strategy for them to determine what baked goods to keep in stock the most?
A) Conduct a survey through a radio ad
B) Interview customers as they enter the shop
C) Post photos of the event on social media
D) Talk with grocery store managers
The best research strategy for Violet and Lilly to determine what baked goods to keep in stock the most is interview customers as they enter the shop. (Option B).
What is Research Strategy?A Research Strategy is a step-by-step action plan that directs your thoughts and efforts, allowing you to do research in a methodical and timely manner, resulting in good results and detailed reporting. The research strategy determines the overall direction of the inquiry.
The three most commonly used research methodologies are quantitative, qualitative, and mixed methods. The researcher anticipates the type of data needed to address the study question.
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A high school student starts a lawn mowing business . His riding lawn mower cost $1,000; gas for the season is $2,000. He spends $500 for gas driving to and from jobs, $300 for supplies and repairs, and $200 for a trimmer. Each week his 20 customers pays $40 a week for a 20 week season. How much money did he make?
=$12,000.00 is what he earned
Explanation:
20x40.00=800×20=$16,000.00
16,000.00-$4,000.00 =$12,000.00
A high school student starts a lawn mowing business. He makes a $12,000 profit, of much money. Thus, option (a) is correct.
What is business?
The term business refers to the earning the profit. The business is the taking the risk and the earning the profit. The business are the mainly focuses to the activity of the creating, distribution and selling concept based.
Determine the given the amount of the mowing business are:
His riding lawn mower cost $1,000.Gas for the season is $2,000. He spends $500 for gas driving to and from jobs.$300 for supplies and repairs. $200 for a trimmer.20 customers pays.$40 a week20 week season.The addition of the $1,000 + $2,000 + $500 + $300 + $200
The amount was the 4000
The week was the 20 × 40
The week was the 800
The week was the 800 × 20
The amount was the 16,000
(16000 – 4000) = 12000
The amount was the mowing business money did the make are $12,000. Therefore, option (a) is correct.
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Your question is incomplete, but most probably the full question was.
He makes a $12,000 profit.He makes a $4,000 profit.He has an $8,000 total cash inflow.He has a $4,000 total cash inflow.Which of the following transactions is included in GDP? O A. funds given to a college student by her parents B. Social Security check received by an elderly couple O C. funds given to a family on welfare O D. funds received by a college student for working in the college dining hall
The transaction that is included in GDP is funds received by a college student for working in the college dining hall.
Gross Domestic Product (GDP) is a measure of the total value of all final goods and services produced within a country's borders during a specific period. It is used to gauge the economic performance of a nation.
GDP includes various types of transactions, but not all transactions are included. Only transactions that involve the production of goods and services are considered in GDP calculations.
Transactions such as funds given to a college student by her parents, funds given to a family on welfare, and funds received by an elderly couple through Social Security checks are not included in GDP. These transactions do not represent the production of goods and services.
However, funds received by a college student for working in the college dining hall are considered in GDP. This transaction represents income earned through productive work, which contributes to the overall production of goods and services in the economy.
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All choices can have unintended consequences. When those outcomes affect someone who had no part in the initial choice, what is it called?
Free market
Free resource
Eminent domain
Externality
When outcomes affect someone not involved in the initial choice, it is known as an externality.
What is an externality?
Externality is when production or consumption activities have an effect on people who are not part of the consumption or production activity. Externality can be positive or negative.
Positive externality occurs when the benefits to third parties not involved in production is greater than the cost. An example of an activity that generates positive externality is research and development.
Negative externality occurs when the cost to third parties not involved in production is greater than the benefits. An example of an activity that generates negative externality is pollution.
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Escobar argues that the development discourse has marginalized alternative conceptualizations of development. Discuss this statement in the context of the struggle between the dominant hegemonic view of development and the alternative vision held by Achuar community in Ecuador.
In his study, Escobar argues that the development discourse has excluded alternative conceptualizations of development. This exclusion of alternative conceptualizations of development has been the root of many challenges in the development of Achuar community in Ecuador.
Conceptualization is the process of identifying and defining a concept in order to understand, clarify and clarify it. It is the method of studying a concept or subject by determining its general characteristics or features. It is a process of developing a concept that is useful in understanding a particular phenomenon.The dominant hegemonic view of development and the alternative vision held by Achuar community in Ecuador.
Escobar claims that the dominant hegemonic view of development focuses on economic growth, modernization, and progress, while overlooking the social, cultural, and environmental aspects of development. According to Escobar, the Achuar community in Ecuador has a different vision of development that is focused on preserving their traditional way of life, cultural identity, and natural resources.
The Achuar people believe that development should be based on their own cultural values and priorities, rather than on external standards and measurements imposed by outside institutions.Achuar community in Ecuador and the struggle for development.The Achuar community has been facing numerous challenges in their struggle for development due to the marginalization of their alternative conceptualizations of development.
For instance, the development policies of the Ecuadorian government have been focused on economic growth, modernization, and industrialization, while overlooking the needs and aspirations of the Achuar people. The construction of roads, oil pipelines, and hydroelectric projects has resulted in the displacement of Achuar communities from their ancestral lands, loss of biodiversity, and contamination of their water sources.
These developments have also threatened the survival of their traditional knowledge and practices. In contrast, the Achuar people's vision of development is based on their own cultural values and priorities, such as preserving their natural resources, protecting their cultural heritage, and maintaining their social relationships.
Therefore, the marginalization of their alternative conceptualizations of development has been a major obstacle in the realization of their vision for development.
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as consumer demand for new cars increases, tire makers and steel and aluminum suppliers may experience an increase in demand for their products, which is an example of:
The increase in demand for tire makers, steel and aluminium suppliers is an example of derived demand.
Derived demand is the demand for a good or service as a result of an increase in the demand for another good or service. Labour and raw materials usually have a derived demand.
As the demand for new cars increase, car makers would want to produce more cars in order to meet the increased demand. This would lead to an increase in the raw materials and labour that is needed to make more cars. On the other hand, if there is a decrease in the demand for new cars, there would also be a decrease in the demand for the raw materials and labour that is needed to make more cars.
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In the circular flow model, which of these is a factor payment?
a. the monthly mortgage on a house
b. the hourly wage a store pays to a clerk
c. the check someone writes to buy groceries
d. the credit card charge for ordering games online
The factor payment in the circular flow model is the hourly wage a store pays to a clerk
What is the factor payment in the circular flow model ?Among the options given, the factor payment is the hourly wage a store pays to a clerk.
In the circular flow model, there are two main sectors: households and firms. Households supply factors of production, such as labor, land, and capital, to firms, and in return, firms pay factor payments, which are payments made to these factors of production. Examples of factor payments include wages paid to employees for their labor, rent paid to landlords for the use of land, and interest paid to lenders for the use of capital.
Option a, the monthly mortgage on a house, is a payment made by a household for the purchase of an asset and is not a factor payment.
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the economy of lower slobovia experienced deflation in 2001, with a decrease in the price level of 5 percent. if the gdp deflator was 1 in january 1, 2001, the index at the end of 2001 is____
The economy of lower slobovia experienced deflation in 2001, with a decrease in the price level of 5 percent. if the gdp deflator was 1 in january 1, 2001, the index at the end of 2001 is 0.95.
Deflation refers to a decrease in the general price level of goods and services in an economy. In the case of lower slobovia, the economy experienced deflation in 2001 with a decrease in the price level of 5 percent. This means that goods and services were cheaper in 2001 compared to the previous year. The GDP deflator is a measure of the price level of all final goods and services produced in an economy.
It is calculated by dividing the nominal GDP by the real GDP and multiplying by 100. The GDP deflator in lower slobovia was 1 in January 1, 2001. This means that the nominal GDP was equal to the real GDP.
To calculate the GDP deflator at the end of 2001, we need to use the formula:
GDP deflator = (Nominal GDP / Real GDP) x 100
We do not have the nominal or real GDP figures for lower slobovia, so we cannot calculate the GDP deflator. However, we can assume that the real GDP remained constant, as deflation does not affect the real GDP. Therefore, if the GDP deflator was 1 in January 1, 2001, and the price level decreased by 5 percent, the GDP deflator at the end of 2001 would be:
GDP deflator = 1 - (1 x 0.05) = 0.95
This means that the price level of goods and services in lower slobovia decreased by 5 percent in 2001, and the GDP deflator decreased to 0.95 by the end of the year.
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What is a stock exchange?
A. A place where investors can buy and sell different
investments.
B. A type of bank that buys and sells different types of
investments.
C. An organization that owns shares of stock.
D. None of the above
Answer:
A. A place where investors can buy and sell different investments.
Explanation:
A stock exchange is a place for the exchange of stocks in the market. In other words, it is a place where investors could 'meet' to buy or sell stocks, be it investments, company shares, or company securities.
A stock market, in simple words, is the marketplace for the buying and selling of investments, a trading place for buyers and sellers. So, a stock exchange is a transaction dealing with stocks, equities, or shares of the commercial world. And the transaction or exchange can only be done if the stock is listed on an exchange.
Thus, the correct answer is option A.
Answer:
A. A place where investors can buy and sell different investments.
Explanation:
The concept behind how the stock market works is pretty simple. Operating much like an auction house, the stock market enables buyers and sellers to negotiate prices and make trades. ... Investors can then buy and sell these stocks among themselves, and the exchange tracks the supply and demand of each listed stock.