ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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____ costs which vary in direct proportion with the level of activity.
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Fixed
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Variable
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Semi Variable
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None of the above
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Explanation:
Detailed explanation-1: -Variable costs are expenses that vary in proportion to the volume of goods or services that a business produces. In other words, they are costs that vary depending on the volume of activity. The costs increase as the volume of activities increases and decrease as the volume of activities decreases.
Detailed explanation-2: -Semi-variable costs are those that have both a fixed and a variable component. Mixed costs are also known as semi-fixed or step costs. They vary but do not change in direct proportion to activity.
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