Mike Wants to Set Up a Factory to Manufacture Roller

question 105

Multiple Choice

Mike wants to set up a factory to manufacture roller skates.He plans to employ a hundred people in his factory.Mike's primary expenses include rent, utilities, insurance, administrative salaries (for executives and higher-level managers) , and depreciation of the physical plant and equipment.The expenses for raw material and labour to make the skates constitute the:

• A)standard costs.
• B)variable costs.
• C)rebate.
• D)improvement value.
• E)fixed costs.

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Definitions:

Violence

Actions that use physical power to cause harm, injury, or death to a person or object.

Slavery

A system in which individuals are owned by others, deprived of personal freedom, and forced to perform labor or services without compensation.

Labor Movement

A collective organization of working people who unite to make decisions or negotiate on matters concerning their employment conditions, including wages, hours, benefits, and working environments.

Wage Slavery

A critical term describing a situation where a person's livelihood depends on wages, especially in a context where the wages are low, and working conditions are poor.