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Which of the Following Characteristics Is a Precondition for Economic

question 39

Multiple Choice

Which of the following characteristics is a precondition for economic growth?
I. economic freedom
Ii. free markets
Iii. active government policy to discourage saving


Definitions:

Variable Cost Per Unit

The cost that varies with the level of output or production, calculated on a per-unit basis.

Fixed Costs

Expenses that remain constant for a business regardless of the level of production or sales volume.

Break-even Sales

The amount of revenue needed to cover a business's total fixed and variable costs, marking the point at which a business neither makes a profit nor a loss.

Unit Variable Cost

The cost associated with producing one additional unit of a product, varying with the volume of production.

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