A ________ Refers to People with Unsatisfied Wants and Needs

question 134

Multiple Choice

A ________ refers to people with unsatisfied wants and needs who are willing and able to buy a product or service.

• A) market
• B) consumer cooperative
• C) consumer collective
• D) buyer's cooperative

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Definitions:

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the standard cost allocated, based on the actual amount of the allocation base used.

Supplies

Materials and items used in the daily operations of a business that do not directly become part of the final product.

Flexible Budget

A budget that modifies based on fluctuations in activity levels or volume.

Output

The quantity of goods or services produced in a given time period by a company, individual, or machine.