In the 15^th Century, the Power of the Castilian Cortés

question 50

Multiple Choice

In the 15^th century, the power of the Castilian Cortés or Parliament declined because

• A) it became increasingly less democratic and more prone to oligarchical control.
• B) increased revenues from royal taxes reduced the Crown's dependence on it.
• C) declining revenues made it largely irrelevant.
• D) growing disorders within the towns provided an opportunity to the Crown to intervene.

Comprehend the risk and profit potential inherent in starting a new business versus buying an existing one.

Distinguish between labor-intensive and capital-intensive businesses and their implications.

Recognize the importance of industry experience in successful entrepreneurship.

Understand the concept of the product life cycle and its stages.

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Definitions:

Fixed Costs

Business expenses that remain constant regardless of the level of production or sales activity, such as rent, salaries, and insurance.

Average Costs

The total cost of production divided by the number of goods produced, reflecting the average expense per unit.

Variable Costs

Expenses that change in proportion to the activity of a business, such as costs for raw materials or production.

Shut Down

The process of ceasing operations, typically referring to temporarily or permanently closing a business or facility.