As a Study of Labor, Raw Material, Energy, and Transit

question 14

Multiple Choice

As a study of labor, raw material, energy, and transit linking a raw material to its eventual life as a consumable item, commodity chains in global food can be considered ______.

• A) farm-to-table studies
• B) a series of feedback loops
• C) summaries of processing stages
• D) a description of goods transit and processing

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Definitions:

Sales Revenue

The total amount of money generated from the sale of goods or services before any costs or expenses are deducted.

Variable Cost

Costs that vary directly with the level of production or sales volume, such as raw materials and direct labor.

Unit Contribution Margin

The difference between the selling price per unit and the variable cost per unit, showing how much each unit contributes to covering fixed costs and earning profit.

Operating Income

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