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A College Student Is Thinking About Running an Ice-Cream Truck

question 95

Multiple Choice

A college student is thinking about running an ice-cream truck over the summer.Which of the following would likely be an ongoing expense of the business?


Definitions:

Surfboards

Long, narrow boards used for riding waves in the sport of surfing.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing one option over another.

Production Possibility Frontier

A graph that shows the highest production potential for two different products based on specific resources and factors.

Technology

Application of scientific knowledge for practical purposes, especially in industry.

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