When the Earth's Peoples Are Increasingly Interconnected Economically, Politically, Culturally

question 43

Multiple Choice

When the Earth's peoples are increasingly interconnected economically, politically, culturally, and environmentally, we are in an era of __________.

• A) alienation
• B) globalization
• C) outsourcing
• D) capital flight

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Definitions:

Selling Price

The amount at which a product or service is offered to the market.

Variable Cost

Expenses that change in proportion to the activity or volume of a business, such as raw materials and labor costs directly tied to production levels.

Average Variable Cost

This is the average amount of variable costs (costs that change with production levels) per unit produced.

Net Profits

The actual profit after working expenses not included in the calculation of gross profit have been paid.