Question

pregunta 11 (5 puntos)
a financial gain from a business transaction is called a/an ____.
a profit
b loss
c mark - up
d market

pregunta 12 (5 puntos)
when people concentrate their efforts in order to maximize efficiency on what they do best, that is called ____.
a specialization
b competition
c nationalization
d privatization

Explanation:

Pregunta 11

To solve this, we analyze each option:

• Option a: Profit is defined as the financial gain from a business transaction (revenue minus costs).
• Option b: Loss is the opposite, a financial deficit.
• Option c: Mark - up is the amount added to the cost price of goods to cover overheads and profit, not the gain itself.
• Option d: Market refers to a place or system for buying and selling, not a financial gain.

We analyze each option:

• Option a: Specialization is when individuals or entities concentrate their efforts on what they do best to maximize efficiency (e.g., a country specializing in producing a good it has a comparative advantage in).
• Option b: Competition is the rivalry between entities for resources or customers, not about concentrating efforts.
• Option c: Nationalization is the transfer of an industry from private to state ownership, not related to efficiency through concentration.
• Option d: Privatization is the transfer of state - owned assets to private ownership, not about concentrating efforts.

Answer:

a. profit

Pregunta 12