General Knowledge Questions

Tennis rackets and ballpoint pens are two independent goods. Since, one doesn't depend on the other.

Missing a credit card payment can increase your credit card's APR.

APR means Annual Percentage Rate.

Any type of insurance, be it home, auto, life, health, etc. are based on a principle of division of risk.

Division of Risk :: This is based on how much risk the insurer estimates the insured's coverage to be. The riskier the opportunity (bad health, area the home is in) the higher the premium costs.

When exports are greater than imports, net exports are positive and similarly, when imports are greater than exports, net exports are negative.

When a country imports goods, it buys them from foreign producers. The money spent on imports leaves the economy, and that decreases the importing nation's GDP.

Sociologists define the concept of "race" as a socially constructed category composed of people who share biologically transmitted traits that members of a society consider important.

Bilater monopoly occurs in a market where a single seller i.e, a only one monopoly and a single buyer i.e, one monopsony exists.