Liabilities Include

question 33

Multiple Choice

Liabilities include

• A) borrowings.
• B) net worth.
• C) savings deposits.
• D) all of the above.

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Definitions:

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, as the cost per unit of output decreases with increasing scale.

Specialization of Labor

The division of labor where individuals focus on a limited scope of tasks or skills, leading to increased efficiency and productivity.

Average Fixed Costs

The fixed costs of production (costs that do not vary with the level of output) divided by the quantity of output produced.

Output

Output is the total amount of goods or services produced by a person, machine, business, or country.