Examlex

Solved

A Person Claims That His House Is NOT in Danger

question 144

Multiple Choice

A person claims that his house is NOT in danger from the rising flood waters of a nearby river and refuses to leave, despite being in imminent danger of being drowned. This is an example of ______.


Definitions:

Variable Cost

Expenses that vary in proportion to the volume of goods or services produced in a business.

Opportunity Cost

The forfeiture of potential benefits from other options by selecting a specific one.

Fixed Costs

Business expenses that remain constant regardless of the level of production or sales activities, such as rent, salaries, and insurance.

Variable Costs

Costs that change in proportion to the level of goods or services a company produces.

Related Questions