What Is the Term for the Whole Units That Could

question 8

Multiple Choice

What is the term for the whole units that could have been produced in a period given the amount of manufacturing inputs used?

• A)FIFO units
• B)transferred-in units
• C)weighted average units
• D)equivalent units of output

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Definitions:

Excludable

A characteristic of a good or service that means it can be restricted to paying customers only.

Rival In Consumption

A characteristic of a good whereby one person's consumption reduces its availability for another person.

Externality

An externality is a consequence of an economic activity experienced by unrelated third parties; it can be either positive (beneficial) or negative (harmful).

Exotic Fish

Fish species that are not native to a specific location, often kept in aquariums or introduced to new environments where they can sometimes become invasive.