Global Resource Demand Has

question 154

Multiple Choice

Global resource demand has

• A) remained relatively constant because increases in population have been offset by declining consumption per person.
• B) declined because of technological progress.
• C) remained constant because population growth and increased consumption per person have been offset by technological progress.
• D) increased because population growth and increased consumption per person have more than offset reduced demand due to technological progress.

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Definitions:

Actual Production

The real quantity of goods or services produced over a specified period, as opposed to planned or expected production levels.

Direct Material Price Variance

The difference between the actual cost of direct materials used in production and the expected (or standard) cost of those materials.

Cost Standards

The benchmarks or norms established for the cost of materials, labor, and overhead that are used in measuring and controlling performance.

Actual Results

The outcomes or data obtained from real operations or experiments, not based on forecasts or estimates.