A ________ Cost Is One That Includes Both Fixed and Variable

question 127

Short Answer

A ________ cost is one that includes both fixed and variable cost components; a ________ cost is one that reflects a step pattern.

Explain the relationship between opportunity costs, time, and decision-making.

Understand the influence of economic incentives on individual's choices, including work, education, and consumption.

Understand the historical trends in federal spending on defense and healthcare.

Comprehend the total government spending as a percentage of the U.S. economy.

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Definitions:

Total Runout

A composite tolerance applied to a feature which controls both its form and its orientation to a datum axis.

Datum Axis

An imaginary line or surface referenced in manufacturing or inspection of parts and assemblies to ensure coordination and correctness of dimension and tolerance specifications.

Circular Runout

A tolerance that controls the uniformity of a feature's surface as it is rotated about a datum axis.

Eccentricity

Eccentricity refers to the degree to which a geometric shape’s center does not align with a reference axis or point, crucial in designing rotating parts to minimize imbalance.