Recent Increases in Downstream Costs Have Occurred Because Of

question 66

Multiple Choice

Recent increases in downstream costs have occurred because of:
i. increased advertising and product promotion.
ii. increased customer servicing.
iii. increased competition.
iv. increases in product design.

• A) i and ii
• B) ii and iii
• C) iii and iv
• D) i, ii and iii

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Definitions:

Physical Capital

The tangible assets that are used in the production of goods and services, including buildings, machinery, and equipment.

Dinner

The main meal of the day, traditionally eaten in the evening.

Microeconomics

The branch of economics that studies how people make decisions and how those decisions interact.

Scarcity

The fundamental economic problem of having seemingly unlimited human wants and needs in a world of limited resources.