Question

Which term describes what a manufacturer spends for goods or services?
A. cost
B. price
C. markup

Answer 1

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Cost is a term describes what a manufacturer spends for goods or services.

In production, research, retail, and accounting, a cost is the value of money that has been used up to produce something, and hence is not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost.

Answer 2

"Cost" is a term describes what a manufacturer spends for goods or services.

Cost refers to the financial value of goods and services that producers and shoppers buy. In a fundamental financial sense, cost is the proportion of the elective open doors inevitable in the decision of one great or action over others. This basic expense is generally alluded to as happenstance cost. For a buyer with a settled pay, the open door cost of obtaining another residential machine might be, for instance, the estimation of a get-away outing not taken.