Planned Obsolescence Refers to

question 34

Multiple Choice

Planned obsolescence refers to

• A)producing products that are quickly to be replaced by newer products.
• B)the way in which environmentally and socially damaging companies portray their products as "environmentally friendly."
• C)the premeditated use of a particular natural resource in such a way that destroys it forever.
• D)depletion of natural resources that makes an area uninhabitable.

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Definitions:

Price

The amount of money expected, required, or given in payment for something.

TVC

Total Variable Cost (TVC) refers to the sum of all costs that vary with the level of output or production in a company.

Maximizing Profits

The process of optimizing the difference between revenue and costs to achieve the highest possible profit.

Fixed Costs

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