Describe at least four costs associated with the use of a credit card that would affect your personal finance.

Finance fees, surcharges, card fees and convenience fees are the four costs involved with credit cards

Explanation:

Finance fees are the interest which every individual owes when he carries many dollars of debt which is unpaid beyond the grace period. Card fees are the charge which every individual has to pay when he applies for the purchase of the credit card. Some credit card providers may waive the card fees when they maintain minimum balance and no debts in their account.  

Convenience fees are the charge which is levied when a n amount is paid using the credit card in order to pay taxes and renew the vehicles. This fee is normally paid to the agency which in turn pays to the third party service provider. Surcharges are the small amount which is levied on the customers when services are utilized by them. Generally, these retailers may avoid levying these charges as it would upset the customers and their good terms with them.  

marginal cost is a microeconomic measure that us to evaluate the extent to which the level of production of a good is sustainable in accounting, that is, to how many quantities the company plans to profit from the production of the good.

the concept of marginal cost is simple, it means the cost of producing one more item. for example, in the case of pies, the marginal cost is the cost of producing one more pie than those that have already been produced.

it is important to understand that productive activity influences marginal cost. the marginal cost of some goods can be very high, while others may be insignificant. for example, the marginal cost of producing an extra plane is very high. already the marginal cost of a water company to provide 1l more water is derisory.

in the case of pies, the cost involves the inputs, the labor and the fixed cost, which involves the fixed space of the bakery. the level of production initially has the marginal cost decreasing because there is space and manpower available. however, to produce more you have to hire more workers and buy more inputs. if physical space is limited, workers will conflict with places, inputs and their productivity will decrease, meaning there is an optimum point of production for each level of space and manpower. from this point on, the productivity of the workers will be getting smaller because of lack of space, so that the marginal cost of producing one more pie will be increasing. so, although you have not posted the chart, but if you have the answer, you can see that my explanation goes according to the marginal cost curve that will increase from the 4th pie, answer (c).

answer; implicit memories explicit;