The Goals of Science Include Description, Explanation, Control, And

question 23

Multiple Choice

The goals of science include description, explanation, control, and:

• A)expectation.
• B)prescription.
• C)confirmation.
• D)prediction.

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Definitions:

Fixed Costs

Business expenses that remain constant regardless of the level of production or sales activities.

Marginal Cost

The additional cost incurred by producing one more unit of a particular good or service.

Sunk Cost

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

Scrap Value

The estimated resale value of an asset after its useful life is over and it is deemed to no longer be usable for its intended purpose.