The Principle That Became Widespread in Europe After World War

question 38

Multiple Choice

The principle that became widespread in Europe after World War I is called ______.

• A)the Peter Principle
• B)laissez-faire capitalism
• C)self-determination
• D)survival of the fittest

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Definitions:

Operating Profit

The profit earned from a firm's core business operations, excluding deductions of interest and taxes.

Mark-up

The amount added to the cost price of goods to cover overhead and profit.

Unit Cost

The cost incurred to produce, store, or acquire one unit of a product or service.

Overhead Costs

Expenses not directly tied to production but necessary for running the business, like rent, utilities, and administrative salaries.