What is called a check that is returned by a bank because it is not payable, usually because of insufficient funds ?
Correct answer: A. Bounce
- A. Bounce
- B. Return
- C. Grossed
- D. Refused
Explanation
A cheque is said to bounce when the bank returns it unpaid, commonly because the account lacks sufficient funds. Thus, “bounce” describes the returned cheque, although “bounced cheque” is the usual wording.
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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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