Examlex
Farmers who use tractors instead of horse-drawn plows have greater yields.Which factor of production explains this result?
Average-Cost Method
An inventory costing method where the cost of goods sold and ending inventory are calculated using the average cost of all units available for sale during the period.
Merchandise Inventory
Goods and products held by a business for the purpose of resale to customers, forming a key current asset on the balance sheet.
FOB Shipping Point
Freight terms indicating that the seller places goods free on board the carrier, and the buyer pays the freight costs.
Freight Costs
The expenses associated with transporting goods from one location to another.
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