The Most Effective Means of Increasing Productivity and Overcoming Economic

question 75

Multiple Choice

The most effective means of increasing productivity and overcoming economic crisis in the Late Middle Ages came from

• A)guild supervision and standards.
• B)higher wages.
• C)technological advances.
• D)the Hanseatic League and similar trade associations.
• E)the decline in guilds.

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Definitions:

Revenue

The total amount of money generated by a company from its activities, such as sales of goods or services, before any expenses are subtracted.

Customers Served

The number of clients or customers a business has provided products or services to within a specific time period.

Flexible Budget

A budget that adjusts or flexes with changes in volumes or activity levels, allowing for more accurate budgeting and performance evaluation.

Variable Cost Estimates

Projections or assessments of costs that change in proportion with the level of production or activity in a business.