As Southerners Moved Farther West and South Between 1812 and 1860

question 67

Multiple Choice

As southerners moved farther west and south between 1812 and 1860:

• A) cotton production soared
• B) the South became less agricultural
• C) the South became less distinctive
• D) fewer slaves were needed
• E) North-South relations got better

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Definitions:

Step-fixed Costs

Costs that remain fixed over a range of activity, but jump to a higher level of expense at certain points when activity levels require it.

Variable Cost

Costs that vary directly with the level of production output or business activity, such as materials and labor directly involved in producing a product.

Inflationary Price Increase

A rise in prices across an economy, often due to an increase in the money supply or demand outstripping supply, reducing the purchasing power of money.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated as the beginning inventory plus purchases minus cost of goods sold.