In the context of contracts, what refers to secret payments made to ensure that the contract goes to a specific firm ?
Correct answer: A. kickback
- A. kickback
- B. Commission
- C. Bribe
- D. Graft
Explanation
A kickback is a secret payment returned to an intermediary or official for directing business, such as awarding a contract to a particular firm. A bribe is broader and may involve other favors or decisions, but kickback is the contract-specific term here.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Microeconomics
Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
Practise Microeconomics
1,742 free Microeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Economics questions like this
Economics is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Microeconomics questions
Asset that is easily and cheaply turned into cash-notably, cash itself and short-term securities are known as______________?
Name a gold, silver, or platinum coin than usually traded at slightly more than its current bullion value ?
Mention an electronic quotation system in USA that provides price quotations to market participants about more actively traded common stock issues in OTC market ?
A seller of goods or services writes a bill that is submitted to a purchaser for payment. What this bill is called?
A company's first sale of stock to the public is called ?
Name a corporation that owns enough voting stock in another firm to control management and operations by influencing of electing its board of directors ?