MINDANAO STATE UNIVERSITY – ILIGAN INSTITUTE TECHNOLOGY

COLLEGE OF BUSINESS ADMINISTRATION AND ACCOUNTANCY

Department of Marketing
1st semester, SY 2022-2023

Name: Marianne Honey T. Cuajotor

Answer the following:

1. What is Business Cost?

Business Cost is all the costs or the amount that a business should incur in

carrying out the operations of the business.

2. What is the difference between fixed cost & variable cost?

The difference is that in fixed cost, the cost remains fixed, or does not change

in relation to any level of output. While in variable cost, the cost is not fixed,

and changes as its output varies.

3. What are the other types of cost?

Aside from Fixed Cost and Variable Cost, there are two other types of costs

and that are Direct Cost and Indirect Cost.