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Microeconomics: Cost and Profits

Microeconomics: Cost and Profits
20問 • 2年前
  • JORNALA, David Christian - HRDM 1-2 B. Jornala
    • 通報

    問題一覧

  • 1

     It is the value foregone in paying price in production.

    Cost

  • 2

    refers to the cost incurred by a business when manufacturing a good or providing a service. include a variety of expenses including, but not limited to, labor, raw materials, consumable manufacturing supplies and general overhead

    production cost

  • 3

    A cost that does not change with an increase or decrease in the number of goods or services produced or sold. is that portion of total cost which remains unchanged even if the level of output changes. Example rent expense.

    Fixed Cost

  • 4

    A corporate expense that changes in proportion to how much a company produces or sells-- they rise as production increases and falls as production decreases. is that part of total cost that do vary with the amount of output produced

    Variable cost

  • 5

    refers to the sum of all expenditures in producing goods and services. It maybe derived by adding fixed costs to variable costs. It increases as more units of output are produced.

    Total cost

  • 6

    As a concept, it is the foregone opportunity of choosing an alternative. The difference between the opportunity gained from alternative and its _________ is the net gain (loss) from said choice. The measure of economic cost or _________, of any resource used to produce a good is the value or worth the resource would have in its best alternative use.

    Opportunity cost

  • 7

    (revealed and expressed) are the monetary payments (or cash expenditures) it makes to those who supply labor services, materials, fuel, transportation services and the like. Such money payments are for the use of resources owned by others

    Explicit costs

  • 8

    are the opportunity costs of using its self-owned, self- employed resources

    Implicit cost

  • 9

    Is the total revenue less economic costs

    Economic Profit

  • 10

    It refers to the relationship between the amount of inputs and outputs that can be obtained.  It is a schedule showing the maximum amount of outputs that can be produced from any specified set of inputs given the existing technology. It can be a catalog of output possibilities.

    Production Function

  • 11

    whose quantity cannot be readily changed (cannot be readily increased or decreased) when market conditions indicate that a change in output is desirable.

    Fixed Input

  • 12

    is one whose quantity can be readily changed when a change in output is desired.

    Variable Input

  • 13

    states that adding an additional factor of production results in smaller increases in output.

    The law of diminishing marginal returns

  • 14

    time frame in which input of one or more productive agents is fixed. It also means any time period not long enough to allow the full effects of some changes to have operated.

    Short-run

  • 15

    time frame in which all inputs are variable because when fixed inputs need adjustment, it can be done when given sufficient time.

    Long-run

  • 16

    Reductions in per unit cost that result from increases in the size of markets and firms are called _________ occur when increasing output leads to lower long run average costs.

    Economies of Scale

  • 17

    occurs when long run average costs start to rise with increased output.

    Diseconomies of scale

  • 18

    As successive units of a variable resource are added to a fixed set of resources, beyond some point, the extra, or marginal product attribute to each additional unit of the variable resource will decline.

    Law of Diminishing Returns

  • 19

    cost that dont change in relation to production volum ____ are the time related. as they remain constant for a period of time total _______ stays the same examples: rent, advertising, depreciation, insurance etc.

    Fixed cost

  • 20

    cost that vary change in relation to production volume Variable costs are Volume-related, as they change with the changes in production volume total _______ increase/decrease example: Direct materials (sugar, egg, wood, cement) direct labor (wages of part-time staff)

    Variable cost

    • Accounting: Cost Concepts and Cost Behavior Analysis

    Accounting: Cost Concepts and Cost Behavior Analysis

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 19問 · 2年前

    Accounting: Cost Concepts and Cost Behavior Analysis

    Accounting: Cost Concepts and Cost Behavior Analysis

    19問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    Accounting: COST ACCOUNTING CYCLE

    Accounting: COST ACCOUNTING CYCLE

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 21問 · 2年前

    Accounting: COST ACCOUNTING CYCLE

    Accounting: COST ACCOUNTING CYCLE

    21問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    Cost-Volume- Profit and Break-Even Analysis

    Cost-Volume- Profit and Break-Even Analysis

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 7問 · 2年前

    Cost-Volume- Profit and Break-Even Analysis

    Cost-Volume- Profit and Break-Even Analysis

    7問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    AOM (group 1)

    AOM (group 1)

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 29問 · 2年前

    AOM (group 1)

    AOM (group 1)

    29問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    AOM (Introduction)

    AOM (Introduction)

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 8問 · 2年前

    AOM (Introduction)

    AOM (Introduction)

    8問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    Microeconomics: Demand and Supply

    Microeconomics: Demand and Supply

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 15問 · 2年前

    Microeconomics: Demand and Supply

    Microeconomics: Demand and Supply

    15問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    LOGISTICS

    LOGISTICS

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 47問 · 2年前

    LOGISTICS

    LOGISTICS

    47問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    AOM (Group 2)

    AOM (Group 2)

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 29問 · 2年前

    AOM (Group 2)

    AOM (Group 2)

    29問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    CHAPTER 3LOGISTICS: STRATEGIC DECISION AND ISSUES

    CHAPTER 3LOGISTICS: STRATEGIC DECISION AND ISSUES

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 26問 · 2年前

    CHAPTER 3LOGISTICS: STRATEGIC DECISION AND ISSUES

    CHAPTER 3LOGISTICS: STRATEGIC DECISION AND ISSUES

    26問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    CHAP 1: OPMAN TQM

    CHAP 1: OPMAN TQM

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 35問 · 2年前

    CHAP 1: OPMAN TQM

    CHAP 1: OPMAN TQM

    35問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    Environmental Science: BIOGEO CYCLES

    Environmental Science: BIOGEO CYCLES

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 53問 · 2年前

    Environmental Science: BIOGEO CYCLES

    Environmental Science: BIOGEO CYCLES

    53問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    MICROECONOMICS RANDOM SHITS

    MICROECONOMICS RANDOM SHITS

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 9問 · 2年前

    MICROECONOMICS RANDOM SHITS

    MICROECONOMICS RANDOM SHITS

    9問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    AOM: (group 4)

    AOM: (group 4)

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 34問 · 2年前

    AOM: (group 4)

    AOM: (group 4)

    34問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    AOM (Group 2)

    AOM (Group 2)

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 29問 · 2年前

    AOM (Group 2)

    AOM (Group 2)

    29問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    MANACC: ABSORPTION AND VARIABLE COSTING

    MANACC: ABSORPTION AND VARIABLE COSTING

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 7問 · 2年前

    MANACC: ABSORPTION AND VARIABLE COSTING

    MANACC: ABSORPTION AND VARIABLE COSTING

    7問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    MANACC: FINANCIAL STATEMENT ANALYSIS

    MANACC: FINANCIAL STATEMENT ANALYSIS

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 20問 · 2年前

    MANACC: FINANCIAL STATEMENT ANALYSIS

    MANACC: FINANCIAL STATEMENT ANALYSIS

    20問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    MANACC: BUDGETING

    MANACC: BUDGETING

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 21問 · 2年前

    MANACC: BUDGETING

    MANACC: BUDGETING

    21問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    MANACC: TRANSFER PRICING

    MANACC: TRANSFER PRICING

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 7問 · 2年前

    MANACC: TRANSFER PRICING

    MANACC: TRANSFER PRICING

    7問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    EnviScie: Biomes

    EnviScie: Biomes

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 18問 · 2年前

    EnviScie: Biomes

    EnviScie: Biomes

    18問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    Enviscie: Epidemiology

    Enviscie: Epidemiology

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 10問 · 2年前

    Enviscie: Epidemiology

    Enviscie: Epidemiology

    10問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    Enviscie: RADIATION AND CHEMICAL MUTAGENS

    Enviscie: RADIATION AND CHEMICAL MUTAGENS

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 7問 · 2年前

    Enviscie: RADIATION AND CHEMICAL MUTAGENS

    Enviscie: RADIATION AND CHEMICAL MUTAGENS

    7問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    Enviscie: Man and the environment

    Enviscie: Man and the environment

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 5問 · 2年前

    Enviscie: Man and the environment

    Enviscie: Man and the environment

    5問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    Enviscie: Disaster risk and Resilience

    Enviscie: Disaster risk and Resilience

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 46問 · 2年前

    Enviscie: Disaster risk and Resilience

    Enviscie: Disaster risk and Resilience

    46問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    LOGMAN: PACKAGING AND LABELING

    LOGMAN: PACKAGING AND LABELING

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 18問 · 2年前

    LOGMAN: PACKAGING AND LABELING

    LOGMAN: PACKAGING AND LABELING

    18問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    LOGMAN: Material Handling

    LOGMAN: Material Handling

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 15問 · 2年前

    LOGMAN: Material Handling

    LOGMAN: Material Handling

    15問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    Microeconomics: The consumer behavior

    Microeconomics: The consumer behavior

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 23問 · 2年前

    Microeconomics: The consumer behavior

    Microeconomics: The consumer behavior

    23問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    Microeconomics: Marginal Revenue and profit maximization and loss minimization

    Microeconomics: Marginal Revenue and profit maximization and loss minimization

    JORNALA, David Christian - HRDM 1-2 B. Jornala · 7問 · 2年前

    Microeconomics: Marginal Revenue and profit maximization and loss minimization

    Microeconomics: Marginal Revenue and profit maximization and loss minimization

    7問 • 2年前
    JORNALA, David Christian - HRDM 1-2 B. Jornala

    問題一覧

  • 1

     It is the value foregone in paying price in production.

    Cost

  • 2

    refers to the cost incurred by a business when manufacturing a good or providing a service. include a variety of expenses including, but not limited to, labor, raw materials, consumable manufacturing supplies and general overhead

    production cost

  • 3

    A cost that does not change with an increase or decrease in the number of goods or services produced or sold. is that portion of total cost which remains unchanged even if the level of output changes. Example rent expense.

    Fixed Cost

  • 4

    A corporate expense that changes in proportion to how much a company produces or sells-- they rise as production increases and falls as production decreases. is that part of total cost that do vary with the amount of output produced

    Variable cost

  • 5

    refers to the sum of all expenditures in producing goods and services. It maybe derived by adding fixed costs to variable costs. It increases as more units of output are produced.

    Total cost

  • 6

    As a concept, it is the foregone opportunity of choosing an alternative. The difference between the opportunity gained from alternative and its _________ is the net gain (loss) from said choice. The measure of economic cost or _________, of any resource used to produce a good is the value or worth the resource would have in its best alternative use.

    Opportunity cost

  • 7

    (revealed and expressed) are the monetary payments (or cash expenditures) it makes to those who supply labor services, materials, fuel, transportation services and the like. Such money payments are for the use of resources owned by others

    Explicit costs

  • 8

    are the opportunity costs of using its self-owned, self- employed resources

    Implicit cost

  • 9

    Is the total revenue less economic costs

    Economic Profit

  • 10

    It refers to the relationship between the amount of inputs and outputs that can be obtained.  It is a schedule showing the maximum amount of outputs that can be produced from any specified set of inputs given the existing technology. It can be a catalog of output possibilities.

    Production Function

  • 11

    whose quantity cannot be readily changed (cannot be readily increased or decreased) when market conditions indicate that a change in output is desirable.

    Fixed Input

  • 12

    is one whose quantity can be readily changed when a change in output is desired.

    Variable Input

  • 13

    states that adding an additional factor of production results in smaller increases in output.

    The law of diminishing marginal returns

  • 14

    time frame in which input of one or more productive agents is fixed. It also means any time period not long enough to allow the full effects of some changes to have operated.

    Short-run

  • 15

    time frame in which all inputs are variable because when fixed inputs need adjustment, it can be done when given sufficient time.

    Long-run

  • 16

    Reductions in per unit cost that result from increases in the size of markets and firms are called _________ occur when increasing output leads to lower long run average costs.

    Economies of Scale

  • 17

    occurs when long run average costs start to rise with increased output.

    Diseconomies of scale

  • 18

    As successive units of a variable resource are added to a fixed set of resources, beyond some point, the extra, or marginal product attribute to each additional unit of the variable resource will decline.

    Law of Diminishing Returns

  • 19

    cost that dont change in relation to production volum ____ are the time related. as they remain constant for a period of time total _______ stays the same examples: rent, advertising, depreciation, insurance etc.

    Fixed cost

  • 20

    cost that vary change in relation to production volume Variable costs are Volume-related, as they change with the changes in production volume total _______ increase/decrease example: Direct materials (sugar, egg, wood, cement) direct labor (wages of part-time staff)

    Variable cost