Mining Makes Up a Resource Based Economy of Which Country

question 20

Multiple Choice

Mining makes up a resource based economy of which country?

• A) New Zealand
• B) Melanesia
• C) Polynesia
• D) Australia

---

Definitions:

Variable Costs

Costs that vary directly with the level of production or output, such as materials and direct labor costs.

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance, providing stability in a budget.

Contribution Margin

The difference between sales revenue and variable costs, indicating how much revenue contributes to covering fixed costs and profit generation.