Use the Information Below to Answer the Following Questions -Refer to the Table Above

question 56

Multiple Choice

Use the information below to answer the following questions.
Scott's Fencing constructs paling fences. During last month, the fencing division erected 4,000 metres of fencing. The costs incurred by the division were as follows: $$\begin{array} { l r } \text { Palings } & \$ 4,000 \\\text { Posts } & \$ 5,000 \\\text { Nails (no usage records) } & \$ 500 \\\text { Cement (no usage records) } & \$ 500 \\\text { Wear and tear on equip. } & \$ 2,000\end{array}$$
-Refer to the table above. The full cost associated with constructing the 4,000 metres of fencing is:

• A)$12,000.
• B)$9,500.
• C)$9,000.
• D)$10,000.

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GDP

The Gross Domestic Product serves as a gauge for a country's economic output, encapsulating the aggregate value of goods and services generated within a set period.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased interconnectedness of the world's economies.

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Individuals or entities advocating for minimal restrictions on international trade, believing it enhances economic efficiency and benefits all countries involved.

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A situation where the import and export of goods in a country do not balance, resulting in either a trade surplus or deficit.