When Consumers Share a Strong Need That Cannot Be Satisfied

question 29

Multiple Choice

When consumers share a strong need that cannot be satisfied by an existing product, it is called ________ demand.

• A) negative
• B) latent
• C) declining
• D) irregular
• E) nonexistent

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Definitions:

Unit Product Costs

The complete expense incurred in the creation of a single unit of a product, encompassing materials, workforce, and indirect costs.

Indirect Labor

Labor costs associated with employees who do not directly work on a product, but whose services are necessary for the manufacturing process.

Job-Order Cost System

An accounting system that collects and assigns manufacturing costs to individual units or batches of production, enabling precise tracking of material, labor, and overhead costs.

Employee Time Ticket

A document or record used to track the amount of time an employee spends on various tasks or projects.