An Increase in Demand Is a Movement Along the Demand

question 101

True/False

An increase in demand is a movement along the demand curve to the right.

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Definitions:

Total Manufacturing Cost

The aggregate of all costs—direct materials, direct labor, and manufacturing overhead—incurred in producing finished goods.

Raw Materials

are the basic, unprocessed inputs used in the manufacture of goods and products.

Indirect Materials

These are materials used in the production process that are not directly traceable to the finished product.

Production

The process of creating goods and services through the combination of labor, materials, and technology.