The Social Welfare System Created in the 1930s in Order

question 32

Multiple Choice

The social welfare system created in the 1930s in order to help the poor and restore trust in capitalism was the

• A) Marshall Plan.
• B) New Deal.
• C) Economic Package.
• D) Development Plan.

---

Definitions:

Conversion Cost

The sum of direct labor costs and manufacturing overhead expenses involved in converting raw materials to finished products.

Total Variable Cost

The sum of all variable expenses that change in proportion with production output or business activity levels.

Contribution Margin

The amount by which sales revenue exceeds variable costs, indicating how much revenue contributes to fixed costs and profit.

Contribution Margin

The amount of revenue available after variable costs have been deducted, which contributes towards covering fixed costs and generating profit.