The Second Stage of the Industrial Revolution Differed from the First

question 17

Multiple Choice

The second stage of the Industrial Revolution differed from the first stage ________.

• A) primarily in the kind of power used
• B) primarily in terms of what nations dominated
• C) primarily in the kinds of industries involved
• D) in almost every aspect

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Definitions:

Fixed Expenses

Costs that do not change regardless of the level of production or business activity.

Break-even Sales

The amount of revenue required to cover total fixed and variable costs, resulting in zero profit or loss.

Variable Expenses

Costs that fluctuate with the level of output or sales, such as raw materials and sales commissions.

Fixed Expenses

Costs that remain constant over a period and are not affected by changes in business activity levels.