To Qualify as "Leisure," an Activity Must

question 18

Multiple Choice

To qualify as "leisure," an activity must:

• A) involve physical exertion.
• B) be discretionary.
• C) involve some monetary payment
• D) be creative.

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Definitions:

Mark-Up Percentage

An added percentage to the buying price of products intended to cover both operational costs and earnings.

Total Variable Cost

The total of all costs that vary directly with the level of output, such as materials and labor costs that increase as more units are produced.

Cost-Plus Pricing

An approach to pricing in which the final selling price is set by adding a predetermined markup to the cost of a single unit of the product.

Variable Manufacturing Cost

Refers to costs that vary directly with the level of production output, including materials, labor, and utility costs.