Examlex
Distinguish between invention and innovation.
Fixed Costs
Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.
Variable Costs
Expenses that change in proportion to the activity of a business, such as sales volume or production levels.
Fixed Expenses
Costs that do not fluctuate with the volume of production or sales, such as rent, salaries, and insurance premiums.
Target Profit
The amount of net income a business aims to achieve within a specific period.
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