Describe fixed costs and variable costs. Give one example of each type of cost.
What will be an ideal response?
Fixed costs must be paid no matter how many goods are sold. An example of fixed costs is rent. Variable costs vary according to how many goods are produced. An example of variable costs is inventory.
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A contract entered into by an intoxicated person is never valid
a. True b. False Indicate whether the statement is true or false
Some states still recognize common law crimes
Indicate whether the statement is true or false
Sebastian had some ideas and developed a new process for the production line, but when he implemented the changes, the results were not what he expected, frustrating him. Instead of improving production speed, the new process slowed down the production and caused some deficiency in the quality of the product. Sebastian works in an innovative culture; therefore, his manager told him
A. his hours on the project would be docked because the process didn't work. B. to keep working on the project and fix the problem. C. to make notes about what went wrong, stop the project, and share the notes with management. D. there was a chance he would be demoted and to not fix things that are working just fine. E. to keep track of the hours he spent on it; he would be paid, but his project would be killed.
What would a company most likely consider when deciding between air and water as a mode of overseas transportation?
What will be an ideal response?