KEEN- EXAM QUESTIONS 33. Choose all the Costs that are considered in calculating
ID: 382513 • Letter: K
Question
KEEN- EXAM QUESTIONS 33. Choose all the Costs that are considered in calculating "Cost of Production"? Material Costs Labor Costs Shipping Costs of Raw materials and To customers Warehouse Costs Warranty Costs Sunk Cost IP Cost selling Costs Legal Costs 34. Choose the common Market Structures Oligopoly Monopoly Competitive Retail Market OEM Market Internet selling 35. Which of the three business model is the best and why, or does it all depend on situation? 1 - A single inventor working with new technologies 2-A partnership that purchases assembled bikes and distributes them to retailers 3 - A retailer who assembles bikes from purchased components.Explanation / Answer
1)cost of production also known as production cost ot consist expenditure that are related to manufacturing of products .cost of production consist of many costs like raw material cost,labor cost ,overheads etc.
COST THAT IS CONSIDERED IN CALCULATING MANUFACTURING COST:
*material cost
*labor cost
*shipping cost of raw material
2)In a common market structures no tarifff for goods and usually free movement of goods and services therefore common market structures are :
OEM MARKET
INTERNET SELLING.
3)SINGLE INVENTORS WORKING WITH NEW TECHNOLOGIES .
BECAUSE new technology will increase attract more customers and sale will increase that result revenue will increase and becuase single inventor is there so profit will be enjoyed individually.
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