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If some income earned by households is not spent on output,or if some income earned by firms is not spent on factor services,the circular flow of income will
Selling Price
The amount of money a customer pays for a particular product or service.
Unit Product Costs
The total cost associated with producing one unit of a product, including direct materials, direct labor, and overhead.
Markup
The amount added to the cost of goods to determine their selling price, typically expressed as a percentage of the cost.
Predetermined Overhead Rate
A rate used to allocate manufacturing overhead costs to products, calculated at the beginning of the period.
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