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Production Costs
The total expense incurred in manufacturing a product or providing a service, including raw materials, labor, and overheads.
Explicit Costs
Directly incurred expenses in the operation of a business, such as wages, rent, and materials.
Entrepreneurial Talent
The unique set of skills, knowledge, and attitudes possessed by individuals that enable them to create, innovate, and manage businesses effectively.
Production Costs
The total expenses incurred in the manufacturing or production of goods, including labor, materials, and overhead.
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