Which of the Following Sectors Contributes the Largest Amount to the U.S.GDP

question 115

Multiple Choice

Which of the following sectors contributes the largest amount to the U.S.GDP?

• A) Farming.
• B) Manufacturing.
• C) Services.
• D) Exports.

---

Definitions:

Variable Cost Concept

The variable cost concept implies costs that vary directly with the level of production or sales volume, such as materials and labor.

Markup

The amount added to the cost price of goods to cover overhead and profit when determining the selling price.

Total Cost Concept

An approach that takes into account all costs associated with the production and distribution of goods or services.

Cost-Plus Approach

A pricing strategy where a fixed percentage or amount of profit is added on top of the cost to produce or purchase goods or services.