Entrepreneurs Need to Remember That _____ Costs Are the Biggest

question 20

Multiple Choice

Entrepreneurs need to remember that _____ costs are the biggest costs a business will bear because of all the associated taxes and any benefits offered.

• A) production
• B) startup
• C) product delivery
• D) inventory setup
• E) employee

---

Definitions:

Price Elasticity

The extent to which demand for an item varies with a shift in its cost.

Income Elasticity

An indicator of the variation in demand for a product based on alterations in consumer income.

International Value

The worth of a product, service, or currency as recognized and accepted across different countries and economies.

Agricultural Exports

Products derived from farming and agriculture that are sold by one country to other countries, which can include crops, livestock, and other agricultural produce.