Natural Resources That Are Depleted as They Are Used

question 97

Multiple Choice

Natural resources that are depleted as they are used

• A)should not be used.
• B)are called nonrenewable natural resources.
• C)should be used for only highly valued purposes.
• D)should be conserved for future generations.
• E)are called renewable natural resources.

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Definitions:

Gross Margin

The financial metric representing the difference between revenue and the cost of goods sold, divided by revenue, often expressed as a percentage. It indicates how efficiently a company is using its resources to produce goods.

Contribution Margin

Contribution margin is the revenue remaining after deducting variable costs, used to cover fixed costs and profit.

Variable Cost

Costs that change in proportion to the level of goods or services that a business produces.

Variable Costing

A pricing approach that incorporates only variable production expenses—such as direct materials, direct labor, and variable manufacturing overhead—into the cost of products.