In economics, total cost is made up of variable costs + fixed costs. Variable costs (VC) are costs that change based on how many goods you produce or how much of a service you use. Fixed costs (FC) are costs that don't change from month to month and don't vary based on activities or the number of goods used.The formula to calculate total cost is the following: TC (total cost) = TFC (total fixed cost) + TVC (total variable cost). To unlock this lesson you must be a Study.com Member.he formula to calculate total cost is the following: TC (total cost) = TFC (total fixed cost) + TVC (total variable cost). To unlock this lesson you must be a Study.com Member.
The definition of microcredit that was adopted there was: Microcredit programmes extend small loans to very poor people for self-employment projects that generate income, allowing them to care for themselves and their families. Definitions deffer, of course, from country to country.
If you want to know if micro-content is something you should care about, just ask Megan Amram or any of the other writers who got their start on Twitter and other social media platforms. Just in case âsomething that can make you famousâ is not a clear enough definition, letâs get a little more specific. Social media marketing is vitally important because people have a whole lot of choices in what to read/buy/do, and they donât have all day to read/buy/do it.