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A thermodynamic system is taken in equilibrium steps from State I to State II. The quantities by which the process can be characterized are
1 internal energy,
2 entropy,
3 temperature,
4 work, and
5 heat.
Of these quantities, those that are independent of path are
Break-Even Point
The point at which total costs equal total revenue, resulting in no profit or loss for the business.
Fixed Costs
Regardless of how much is produced or sold, costs for rent, salaries, and insurance remain unchanged.
Variable Costs
Prices that adjust based on the quantity of products made or sold.
Pretax Income
Income earned by an entity before any taxes have been deducted.
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