Liquid Assets Refer to

question 16

Multiple Choice

Liquid assets refer to

• A)amounts that must be paid soon.
• B)amounts on which taxes must be paid
• C)total income available to a family for spending.
• D)the value of investments.
• E)items that are easily converted to cash.

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Definitions:

Total Fixed Cost (TFC)

The sum of all costs required to produce any level of output that does not change as the level of production increases or decreases.

Total Costs (TC)

The total of variable and fixed expenses a business faces while creating goods or services.

Total Fixed Costs

The overall sum of all costs that do not change with the level of output, such as rent, salaries, and insurance.

Total Costs

The aggregate expense incurred in the production and delivery of goods or services, combining direct, indirect, fixed, and variable costs.