A Company Buys Electronic Components, Assembles Them into PCs, and Then

question 75

Multiple Choice

A company buys electronic components, assembles them into PCs, and then ships them to customers. In this case the electronic components are _____ for the company.

• A) outputs
• B) products
• C) processes
• D) inputs
• E) services

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Definitions:

Normal Rate

The standard or usual rate for a task or service, often related to wages or interest.

Cost Per Bushel

A measure of the expenses incurred to produce a bushel of an agricultural product, such as grains.

Profit

The financial gain realized when the revenue generated from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Total Revenue

The total amount of money a company receives from its sales of goods or services, not subtracting any costs.