In Order to Understand Entrepreneurship as a Process,it Is Essential

question 17

Multiple Choice

In order to understand entrepreneurship as a process,it is essential to consider which of the following factors?

• A) The economic, technological, and social conditions from which opportunities rise.
• B) The people who recognize technological, economic, and social conditions from which opportunities rise
• C) The business techniques and legal structures used to develop opportunities.
• D) The economic and social effects produced by the realization of opportunities.
• E) All of the above.

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Definitions:

Fixed Overhead

Fixed costs that do not vary with the level of production or sales over a short term, including rental expenses, salaries, and insurance.

Direct Materials Price Variance

This refers to the difference between the actual cost of direct materials and the standard cost that was expected or budgeted for those materials.

Standard Price

The predetermined cost that a company expects to pay for various materials, labor, or overhead used in their products or services.

Actual Price

The amount of money exchanged for a good or service in a real-world transaction.