The Basic Means of Livelihood for Citizens of the Greek

question 64

Multiple Choice

The basic means of livelihood for citizens of the Greek city-state was

• A)the trades and crafts of the middle class.
• B)industry and technology.
• C)public works and warfare.
• D)agriculture.
• E)warfare.

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Definitions:

Financial Break-Even

The point at which a project or company generates enough revenue to cover its operating and financial expenses.

Variable Costs

Costs that vary directly with the level of production or volume of output, such as materials and labor directly involved in a company's manufacturing process.

Required Rate of Return

The minimum return an investor expects to achieve by investing in a particular asset, taking into account its risk level.

Break-Even Quantity

Break-even quantity is the number of units that must be sold for total revenues to equal total costs, at which point the company makes no profit but also incurs no loss.