A Business Plan Must Illustrate the Current Status of the Venture

question 7

True/False

A business plan must illustrate the current status of the venture, not the projected results.

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Definitions:

Deadweight Loss

The loss of economic efficiency that occurs when the equilibrium for a good or service is not achieved or is not achievable.

Marginal Cost

The increase in total cost that arises from producing an additional unit of a good or service.

Marginal Benefit

The extra pleasure or benefit gained from consuming an additional unit of a product or service.

Marginal Cost

The added financial burden of producing another unit of a product or service.