Although Greece Is Described as "Resource Poor" in the Chapter

question 17

Multiple Choice

Although Greece is described as "resource poor" in the chapter, it economically prospered

• A)through a brisk trade in slaves.
• B)because of successful manufacturing.
• C)by using a large population as a large "service" sector.
• D)through access to foreign resources, markets, and ideas.
• E)by frequently raiding its neighbors.

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Definitions:

Direct Labor-Hours

The total hours of labor directly involved in producing goods or performing services.

Predetermined Overhead Rate

A rate calculated before the accounting period begins, used to estimate the overhead costs per unit of activity.

Casting Department

A specialized division in manufacturing where molten material is poured into molds to form products.

Predetermined Overhead Rate

A rate calculated before a period begins, used to apply manufacturing overhead costs to jobs based on a certain activity, such as direct labor hours.