Matching Definitions

(1) Which situation is the best example of “Commuting Expenses” incurred by an employee?

  • (a) Michael purchases a new briefcase for his work documents.
  • (b) Anna buys a monthly train ticket to travel to and from her workplace.
  • (c) Lucas pays for his lunch at the cafeteria near his office building.
  • (d) Sophie buys a new suit for her job interviews.

(2) Which of these is an example of “Outsourcing” in a business context?

  • (a) A company contracts a third-party firm to handle its customer service operations.
  • (b) The marketing department hires a new team lead from within the company.
  • (c) The IT department purchases new software for internal use.
  • (d) Management decides to open a new branch office in another city.

(3) “Inflation” is best exemplified by which of the following scenarios?

  • (a) A stock market dip results in a temporary decrease in the value of stocks.
  • (b) The average price of groceries increases over a year, reducing the purchasing power of the currency.
  • (c) A company’s profits decrease due to a rise in the cost of raw materials.
  • (d) The government reduces taxes, leading to increased disposable income for citizens.

(4) What does the term “Gross Domestic Product (GDP)” refer to?

  • (a) The total value of goods and services produced within a country’s borders in a specific time period.
  • (b) The profit earned by a company after taxes and expenses.
  • (c) The total population of a country.
  • (d) The number of exports a country makes in a year.

(5) What does “Supply and Demand” refer to in economics?

  • (a) The balance between a company’s assets and liabilities.
  • (b) The relationship between the quantity of a good or service available and the desire for it among buyers.
  • (c) The government’s control over businesses.
  • (d) The total revenue generated by a business.

Author: user