The Industrial Codes Set Up Under the National Recovery Administration

question 68

True/False

The industrial codes set up under the National Recovery Administration set floors below which no company could lower prices or wages.

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Definitions:

Net Sales

The revenue from sales of goods or services after deducting returns, allowances, and discounts.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, representing what is sacrificed as a result of choosing one option over another.

Sunk Cost

Costs that have already been incurred and cannot be recovered, which should not affect future business decisions.

Indirect Cost

A cost that cannot be easily and conveniently traced to a specified cost object.