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Sarah Has What She Thinks Is a Great Idea for a Small

question 40

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Sarah has what she thinks is a great idea for a small business. She has developed a new toy that her baby sister loves playing with. She has $10,000 in savings she can use toward the business. What is the first step she should take in launching her business in Canada?


Definitions:

Fixed Cost

Expenses that remain unchanged regardless of the volume of goods or services produced within a certain range.

Trucking Department

A specialized unit or department within a company responsible for the management and operation of the fleet of trucks for transportation of goods.

Order Fulfillment Department

A division within a company responsible for processing customer orders and ensuring products are delivered to customers efficiently and accurately.

Variable Costs

Costs that vary in direct proportion to the level of production or business activity.

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