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What is the amount of money required for each stage of production, such as raw materials?



A. Cost
B. Cost
C. Costs
D. Costs

This question is part of Grade 10 Business Test
Asked by Cim, Last updated: Sep 16, 2020

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4 Answers

M. Klose

M. Klose

M. Klose
M. Klose, Content Writer, Oakland

Answered Dec 05, 2018

I’m going to have to agree with the longest answer here. The answer you want is “price,” not “cost” or “costs.” The price is often used to say what something costs in terms of money. The cost that would be required in this case would be the non-monetary items that are given up in favor of other things - such as a factory in a city rather than in a rural area.

Money is never specifically a cost. It is simply another part of business, and everyone knows that if you’re going to make money, you have to spend money. As unfortunate as that is, it’s part of the business. However, I’ll say it again: the answer is “price,” not “cost” or “costs”.

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John Adney

John Adney

John Adney
John Adney

Answered Dec 02, 2017

The right answer for the firstquestion in my opinion is cost.

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EconGenius

EconGenius

EconGenius
EconGenius

Answered Jun 03, 2017

This is not true. I am currently taking economics and i know for a fact that the answer is not costs. Costs are the non-monetary tradeoff for the production of a good or service. The costs in this case would be the NON-MONETARY value of the raw materials or the production capacity or the factory he chose not to build in favor of producing at each stage of production. Costs is not the most viable answer in this case. i'm not saying that costs are never money but they are never measured in money. The correcter answer for this is price. price is always monetary and if you draw a Production Possibilities Curve price will ALWAYS be on the y-axis. Just a heads up.
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John Smith

John Smith

John Smith
John Smith

Answered Feb 16, 2017

Cost
Cost
Costs
Costs
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