Factory Overhead

question 20

Multiple Choice

Factory overhead:

• A)Can be a variable cost or a fixed cost.
• B)Is a prime cost.
• C)Can only be a fixed cost.
• D)Includes all factory labor.

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Definitions:

Markets

Markets are arenas in which buyers and sellers come together to exchange goods, services, or financial instruments at determined prices.

Equilibrium

A situation in the market where demand matches supply, resulting in steady prices.

Supply Curve

The supply curve is a graphical representation showing the relationship between the price of a good and the amount that suppliers are willing and able to sell in the market.

Decrease

A reduction in quantity, size, or intensity.