Payments Higher Than Necessary to Call Forth a Resource Are

question 139

Multiple Choice

Payments higher than necessary to call forth a resource are known as _____.​

• A)profit
• B)rents
• C)consumer surplus
• D)opportunity costs
• E)subsidies

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Definitions:

Reliability

The quality of being dependable or the degree to which an item can perform its required functions under stated conditions for a specified period of time.

Inventory

Items or materials a business holds for the ultimate goal of resale or production.

Supply Chain Surplus

The difference between the value generated by the final product and the total cost incurred in the supply chain to produce and deliver the product.

Functional Costs

Expenses directly associated with the operational activities of a business, such as production, marketing, and distribution.