Which of the Following Terms Refers to the Impossibility of Preventing

question 6

Multiple Choice

Which of the following terms refers to the impossibility of preventing non-buyers from enjoying the benefits of a product?

• A)Non-consumption.
• B)Non-excludable.
• C)Non-rival.
• D)Externalities.

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Definitions:

Cost Of Goods Sold

Cost of Goods Sold (COGS) is the direct costs attributable to the production of the goods sold by a company, including materials and labor costs.

Accounting Period

A specific duration of time for which financial records are maintained and financial statements are prepared to assess a company's financial performance and position.

Gross Profit Margin

A financial metric that measures the percentage of revenue exceeding the cost of goods sold.

Cost Of Goods Sold

The total expense incurred by a business to manufacture or acquire products that were sold during a specific period.