Items Such as Cars, Baseballs, and Clothing Are Called

question 47

Multiple Choice

Items such as cars, baseballs, and clothing are called:

• A) commodities
• B) goods
• C) services
• D) experiences
• E) None the above

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Definitions:

CVP Analysis

Short for Cost-Volume-Profit Analysis, a tool that helps determine how changes in costs and volume affect a company's operating income and net income.

Disposable Income

The amount of money that households have available for spending and saving after income taxes have been accounted for.

Sensitivity Analysis

A technique used to determine how different values of an independent variable affect a particular dependent variable under a given set of assumptions.

CVP Analyses

Cost-Volume-Profit Analyses, a financial modelling technique that analyzes how changes in costs and volume affect a company's profits.