Which of the Following Is a Typical Example of a Variable

question 11

Multiple Choice

Which of the following is a typical example of a variable cost?

• A) cost of maintaining inventory
• B) rent on a building
• C) executive salaries
• D) insurance premiums
• E) lease on delivery trucks

Identify the components and processes within a business environment including inputs, outputs, and resources.

Comprehend efficiency and effectiveness concepts in the context of business process management.

Recognize different strategies for gaining competitive advantage in the marketplace.

Understand the impact of technology in enhancing customer experience and operational processes.

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Definitions:

Opportunity Cost

Giving up potential gainful opportunities from other choices by selecting a specific option.

Talented People

Individuals who possess a high level of skill, ability, or aptitude in specific areas or activities.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost relative to others.

Oranges

A citrus fruit known for its sweet taste and rich vitamin C content, commonly consumed fresh or as juice.