The Greek Philosopher Aristotle Argued for Diversity and Private Ownership

question 3

Multiple Choice

The Greek philosopher Aristotle argued for diversity and private ownership. This laid the groundwork for

• A) collectivism.
• B) individualism.
• C) socialism.
• D) totalitarianism.
• E) communism.

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Definitions:

Fixed Overhead

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance.

Special Offer

A promotional deal or discount aimed at encouraging consumers to buy a product or service.

Direct Materials

The raw materials that can be directly traced to the manufacturing of a product.

Remachine

The process of reworking or refurbishing a piece of machinery to restore its functionality or improve its performance.