Knowledge of the Computer Software Used by a Business Is

question 164

Multiple Choice

Knowledge of the computer software used by a business is an example of:

• A) human capital.
• B) physical capital.
• C) production technology.
• D) technical knowledge.

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Definitions:

Operating Profit

The profit earned from a firm's core business operations, excluding deductions of taxes and interest.

Mark-up

The amount added to the cost price of goods to cover overhead and profit; typically expressed as a percentage of the cost.

Unit Cost

Unit cost is the total expense incurred to produce, store, and sell one unit of a product or service, including both fixed and variable costs.

Operating Profit

Income from business operations after operating expenses are subtracted from gross profits, but before taxes and interest expenses.