The term prospectus refers to______________?
Correct answer: C. Both of them
- A. Formal summary of proposed project
- B. Document describing chief features of something for participants
- C. Both of them
- D. None of them
Explanation
A prospectus is a formal document that summarizes a proposed investment or project and explains its main features to prospective participants or investors. Thus both descriptions capture its meaning.
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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.
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