Which of the Following Does NOT Describe an Investment in Human

question 103

Multiple Choice

Which of the following does NOT describe an investment in human capital?

• A)It is of minor importance to economic growth.
• B)It can be acquired through on-the-job training.
• C)It can be acquired through education.
• D)It is an important source of economic growth.

Recognize different types of budgets within a corporate setting and their purposes.

Identify the process and benefits of preparing a sales budget.

Explain the role of flexible and static budgets in planning and control.

Understand the concepts of budget slack and goal conflict in budget preparation.

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Definitions:

Marginal Costs

The cost associated with producing one extra unit of a commodity, emphasizing the importance of scale in production.

Average Total Costs

The total cost of production divided by the number of units produced, representing the cost per unit.

Average Fixed Costs

Fixed production costs (unchanged by output volume) divided by the total produced output quantity.

Short-Run

A period in which at least one factor of production is fixed, influencing how businesses can respond to changes in demand or supply.