A Reaction Chain

question 24

Multiple Choice

A reaction chain

• A)consists of an alternating sequence of stimuli and responses
• B)is innate
• C)both a and b
• D)neither a nor b

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Definitions:

Net Sales

The revenue from sales of goods or services after deducting returns, allowances, and discounts.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, representing what is sacrificed as a result of choosing one option over another.

Sunk Cost

Costs that have already been incurred and cannot be recovered, which should not affect future business decisions.

Indirect Cost

A cost that cannot be easily and conveniently traced to a specified cost object.