Which One of the Following Types of Cost Is Not

question 59

Multiple Choice

Which one of the following types of cost is not a typical service cost involved with long-term service contracts?

• A)initial direct costs
• B)direct costs
• C)initial indirect costs
• D)indirect costs

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Definitions:

Circular-Flow Diagram

A visual model of the economy that shows how dollars flow through markets among households and firms.

Supply and Demand

The fundamental economic model describing how prices fluctuate based on the interplay between the quantity of a good available and the desire for that good.

Macroeconomic Analysis

The study of the behavior, structure, and decision-making of an economy as a whole, including topics like inflation, unemployment, and economic growth.

Microeconomic Analysis

The study of the behavior of individuals and firms in making decisions regarding the allocation of limited resources.