The Final Step in Determining the Cost of an Activity

question 61

Multiple Choice

The final step in determining the cost of an activity is:

• A) determine necessary resources.
• B) determining resource quantity
• C) determining the cost of each resource
• D) ensuring resources are leveled
• E) none of these

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Definitions:

Upsloping

Describes a curve or line on a graph that shows an increase in value or quantity as it moves from left to right.

Flexible Exchange Market

Refers to a foreign exchange market where exchange rates are allowed to move due to market forces without intervention by country governments.

Equilibrium Quantity

The amount of goods supplied that is equal to the amount of goods demanded in a market, reached at the intersection of the supply and demand curves.

Demand Curve

A graph showing the relationship between the price of a good and the amount of the good that consumers are willing and able to purchase at that price.