Which of the Following Was an Important Feature in the Economy

question 60

Multiple Choice

Which of the following was an important feature in the economy of the Middle Colonies during the 1700s?

• A)Flax and wool were imported to make clothing.
• B)Several farms achieved relative self-sustenance.
• C)Wine and gold were exported to England in return for fish.
• D)Farmers lived in villages instead of on their farms.
• E)Timber was imported to establish shipbuilding industries.

---

Definitions:

Labour Efficiency Variance

The difference between the actual labor hours used and the standard labor hours expected for the level of production achieved, often related to workforce productivity.

Variable Overhead

Costs that fluctuate with the level of production or business activity, such as utilities or raw materials.

Labour Rate Variance

The difference between the actual cost of labor and the expected (or budgeted) cost.

Standard Hours Allowed

The amount of work hours allocated to complete a specific task or project, often used in performance measurement.