If the 130,000-Year Period Since Anatomically Modern Humans Made Their

question 97

Multiple Choice

If the 130,000-year period since anatomically modern humans made their first appearance were compressed into a single day, economic growth would have begun in the last:

• A) three hours.
• B) hour.
• C) three minutes.
• D) half hour.
• E) two hours.

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Definitions:

Fixed Overhead

Ongoing, recurring costs associated with operating a business that do not vary with production level or sales volume.

Direct Labor

The labor costs directly traceable to the production of goods or services, such as wages paid to workers or machine operators.

Fixed Overhead

Overhead expenses that remain constant regardless of a company's level of production or sales.

Raw Material

Basic materials used in the production process that are transformed into finished goods through manufacturing.