High-Technology Corridors Have Sprung Up in the Global Economic Core

question 69

Multiple Choice

High-technology corridors have sprung up in the global economic core.The resulting collection of high-tech industries has been called a technopole with the best known being California's "Silicon Valley." A similar concentration has appeared around the city of ______________ in the eastern United States.

• A)New York
• B)Philadelphia
• C)Richmond
• D)Boston

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Definitions:

Fixed Costs

Expenses that do not change with the volume of production or sales, such as rent, salaries, and insurance.

Variable Cost

A cost that varies with the level of output or activity, in contrast to fixed costs, which remain constant regardless of activity.

Fixed Costs

Expenses that do not change with changes in the volume of production or sales, such as rent, salaries, and insurance.

Break-Even Point

The point at which total costs and total revenues are equal, resulting in no net loss or gain.