The Costs Associated with Changing Prices Are Called

question 85

Multiple Choice

The costs associated with changing prices are called

• A) price costs.
• B) implicit costs.
• C) menu costs.
• D) market-clearing costs.

---

Definitions:

Petty Cash Fund

A small amount of cash kept on hand for making immediate payments for small, incidental expenses.

Small Expenditures

Minor or trivial expenses often incurred in the day-to-day operation of a business.

Merchandise

Products acquired for resale to customers in the course of business operations.

Voucher System

An accounting system that involves the use of vouchers as proof of a transaction's occurrence, used for controlling expenditures.