Monday, 19 January 2009

I do not think that collecting the information for the Internet is the best source of information as it is not always reliable and false information can easily be put on to the internet. However, the people who write the information on the websites must get their information from somewhere, therefore it comes from an original source that is unknown and therefore the facts could have been changed along the way and therefore may not be as reliable as it first was and therefore it is not always wise to trust the information. Whereas, a book is much more reliable, as not only has it probably been written by someone who understands the topic but it will have also been edited several times to ensure that the information is correct. Therefore i would use a book over the internet, as it is more reliable although information on the internet is more accessible.

Sunday, 18 January 2009

DEFINITIONS-

VARIABLE COSTS-
A cost of labor, material or overhead that changes according to the change in the volume of production units. Combined with fixed costs, variable costs make up the total cost of production. While the total variable cost changes with increased production, the total fixed costs stays the same

COSTS-
Cost is the value that must be given up to acquire a good or service.

FIXED COSTS-
A cost that does not vary depending on production or sales levels, such as rent, property tax, insurance, or interest expense.