Variable Costs

question 14

Multiple Choice

Variable costs:

• A)are fixed in total as production levels change.
• B)are fixed per unit and vary in total as productions levels change.
• C)decrease per unit as production volume increases.
• D)vary per unit of output as production levels change.

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Definitions:

Industrialization

The development of industries in a country or region on a wide scale, characterized by the shift from agrarian to industrial modes of production.

Business Representative

An individual who acts on behalf of a business entity in dealings with others, such as negotiations or partnerships.

Secretary-Treasurer

A combined executive role in organizations, responsible for both the secretarial duties and the financial management of the entity.

Negotiate Contracts

The process of discussing the terms of a contract between two or more parties to reach a mutual agreement.