If You Wished to Start a New Life in North

question 25

Multiple Choice

If you wished to start a new life in North America during the time when it was being settled by European colonists, but were unable to pay your passage, one option you could consider to get to the colonies was to become a[n]:

• A) sea captain.
• B) stowaway
• C) indentured servant.
• D) slave.
• E) paid servant.

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Definitions:

Contribution Margin Ratio

The contribution margin ratio is a financial metric that shows what percentage of sales revenue is not consumed by variable costs and thus contributes to covering fixed costs.

Fixed Costs

Costs that remain constant regardless of a company's level of activity, including expenses like lease payments, wages, and premiums.

Break-even Point

The point at which total costs and total revenue are equal, meaning no net loss or gain, and the business has "broken even."

Sales Dollars

A term used to represent the total value, in monetary terms, of all sales transactions within a specified period.