Fixed Cost Is Sometimes Referred to as

question 112

Multiple Choice

Fixed cost is sometimes referred to as

• A)sunk cost.
• B)variable cost.
• C)total cost.
• D)economic cost.
• E)accounting cost.

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Definitions:

David Ricardo

A British economist known for his contributions to classical economics, especially his theory of comparative advantage in trade.

Supply and Demand

Fundamental economic concepts describing the relationship between the availability of products and the desires of consumers, dictating the price of goods and services.

Compound Interest

Interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods on a deposit or loan.

Truth in Lending Act

A U.S. federal law designed to promote informed use of consumer credit by requiring disclosures about its terms and costs.