Examlex
Match the word or phrase with its meaning.
-Indexing
Labor
Human effort, whether physical or mental, contributed to the production of goods and services.
Materials
The physical components used in the production of goods and services.
Fixed Costs
Costs that do not vary 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 raw material and labor costs.
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