The Development and Spread of New Ideas, Goods, and Services

question 235

Multiple Choice

The development and spread of new ideas, goods, and services for the marketplace is called:

• A) marketing.
• B) the micro-macro dilemma.
• C) collaboration.
• D) innovation.
• E) production.

---

Definitions:

Fixed Costs

Costs that do not change with the level of output or activity, including salaries, rent, and insurance.

Activity Level

A measure of the amount of work or production a business undertakes, which can affect costs and efficiencies.

Total Cost Line

A graphical representation of how total costs change with changes in the level of activity or production volume.

Per Unit Cost

The cost associated with a single unit of product or service, calculated by dividing total costs by the number of units produced.