Business Function Costs Are ________

question 185

Multiple Choice

Business function costs are ________.

• A) the sum of all fixed costs, sunk costs, and opportunity costs in a particular business function of the value chain
• B) the sum of all variable and fixed costs in a particular business function of the value chain
• C) the sum of all variable and fixed costs in all business functions of the value chain
• D) the sum of all fixed costs, sunk costs, and opportunity costs in all business functions of the value chain

---

Definitions:

Price Elastic

The degree to which the demand for a product changes in response to a change in its price.

Price Inelastic

Characterizes a situation where the demand for a good or service does not significantly change with a change in its price.

Price Volatile

Refers to sudden and significant price changes within short periods, often seen in markets for commodities or securities.

Marketing Mix

The factors that a business can change in selling products to customers—product, place, price, and promotion.