Prices determine how resources are to be used. They are also the means by which products a

If one were to ask a group of randomly selected individuals to define "price", many would reply that price is an amount of money paid by the buyer to the seller of a product or service or, in other words, that price is the money value of a product or service as agreed upon in a market transaction. This definition is, of course, valid as far as it goes. For a complete understanding of a price in any particular transaction, much more than the amount of money involved must be known. Both the buyer and the seller should be familiar with not only the money amount, but with the amount and quality of the product or service to be exchanged, the time and place at which the exchange will take place and payment will be made, the form. of money to be used, the credit terms and discounts that apply to the transaction, guarantees on the product or service, delivery terms, return privileges, and other factors. In other words, both buyer and seller should be fully aware of all the factors that comprise the total "package" being exchanged for the. asked-for amount of money in order that they may evaluate a given price.

What is the best title for the passage？

A．The Inherent Weaknesses of the Price System

B．The Complexities of the Price System

C．Credit Terms in Transactions

D．Resource Allocation and the Public Sector

An important factor in a market-oriented economy is the mechanism by which consumer demands can be expressed and responded to by producers. In the American economy, this mechanism is provided by a price system, a process in which prices rise and fall in response to relative demands of consumers and supplies offered by seller-producers. If the product is in short supply relative to the demand, the price will be a bit up and some consumers will be eliminated from the market. If, on the other hand, producing more of a commodity results in reducing its cost, this will tend to increase the supply offered by seller-producers, which in turn will lower the price and permit more consumers to buy the product. Thus, price is the regulating mechanism in the American economic system.

The important factor in a private-oriented economy is that individuals are allowed to own productive resources (private property), and they are permitted to hire labor, gain control over natural resources, and produce goods and services for sale at a profit. In the American economy, the concept of private property embraces not only the ownership of productive resources but also certain rights, including the right to determine the price of a product or to make a free contract with another private individual.

In Line 9, Para.1, "the desire of individuals to maximize their incomes" means ______.

A．Americans are never satisfied with their incomes

B．Americans tend to overstate their incomes

C．Americans want to have their incomes increased

D．Americans want to increase the purchasing power of their incomes

A．The currency that mainly influences sales prices for the entity’s goods and services

B．The currency that mainly influences the costs of providing goods and services

C．The currency in which funds from financing activities are generated

D．All of the above

How much risk you are willing to accept for a given potential return is a ______(determine) you will have to make for yourself.

A.as

B.how

C.that

D.what

25 Quality attributes

A. are used to determine how effectively the organization accomplishes its goals

B. can be objective or subjective in nature

C. are specific quality characteristics for which a product is designed, built, and tested.

D. A and B.

E. B and C