Unpredictable Shocks to the Economic System Are Called

question 44

Multiple Choice

Unpredictable shocks to the economic system are called:

• A) random influences.
• B) examples of seasonality.
• C) cyclical fluctuations.
• D) trend reversals.

Comprehend the distinctions among plantwide overhead rate, departmental overhead rate, and ABC.

Identify the types of costs associated with manufacturing (direct materials, direct labor, and manufacturing overhead) and how they relate to product cost.

Recognize the role and impact of facility-level costs within a costing system.

Explain the process and significance of cost allocation in manufacturing and service industries.

---

Definitions:

Fetal Development

The process of growth and maturation of a fetus inside the uterus from conception to birth.

Increased Inequality

A situation where the economic gap between individuals or groups within a society widens, leading to a larger disparity in wealth and income.

Uranium Ore

A naturally occurring mineral from which uranium can be extracted, used as fuel for nuclear reactors and in the manufacturing of nuclear weapons.

Environmental Racism

The unfair distribution of environmental hazards and toxic facilities resulting from policies and practices that disproportionately affect individuals, groups, or communities based on race or color.