Variable costing of inventory and absorption costing of inventory is relevant for which of the following types of businesses?

A. Manufacturing firms.

B. Not-for-profit companies.

C. Governmental units.

D. Service firms.

E. All of the other answers are correct.

Which of the following statements about environmental costs is false?

A. Remediation costs include offsite, but not onsite, remediation costs.

B. Abatement costs include costs to reduce or eliminate pollution.

C. Monitoring costs include the costs of monitoring the regulatory environment as well as monitoring the production process to determine if pollution is being generated.

D. Private environmental costs are those borne by a company or individual.

E. Social environmental costs are those borne by the public at large.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer/// real gdp decreases to y3 and the price level falls to p3;