The Factors of Production Include

question 193

Multiple Choice

The factors of production include

• A)wages.
• B)capital.
• C)investment.
• D)transfers.

Comprehend the role of external variables in controlling and shaping behavior.

Understand the differences between shaping and respondent behavior.

Recognize the concepts of operant conditioning and its techniques, including successive approximation and self-administering satiation.

Identify and evaluate therapeutic applications derived from Skinner's research.

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Definitions:

Predetermined Overhead Rate

A rate calculated at the beginning of the fiscal period to estimate indirect costs based on a certain activity, such as machine hours or labor hours.

Direct Labor-Hours

The cumulative amount of time spent working directly in the production of a good or the delivery of a service.

Job-Order Costing

A cost accounting system that accumulates costs per job rather than process, suitable for firms producing unique or custom products.

Predetermined Overhead Rate

A rate used to apply manufacturing overhead to products, calculated before the manufacturing process begins.