The Bill of Resources Is a List of

question 96

Multiple Choice

The Bill of Resources is a list of

• A) staff time needed to manufacture an item.
• B) all resources needed to provide a service.
• C) staff time needed to provide a service.
• D) raw materials needed to provide a service.

---

Definitions:

Entrepreneur's Forgone Interest

The potential interest income sacrificed by an entrepreneur when choosing to invest personal funds into their own business rather than in an interest-bearing account.

Long-Run Average Cost

The per-unit cost of production in the long-term, where all input factors are variable, indicating economies or diseconomies of scale.

Upward-Sloping

Describes a line on a graph that demonstrates an increase in value as it moves to the right, often used to represent increases in costs or prices.

Diseconomies of Scale

Diseconomies of scale occur when a company or business grows so large that the costs per unit increase, leading to decreased efficiency.