What Is an Entrepreneur

question 40

Short Answer

What is an entrepreneur?

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Definitions:

Annual Fixed Costs

Costs that do not vary with the volume of production or sales and are incurred on a yearly basis.

Variable Costs

Expenses that vary directly with levels of production.

Fixed Costs

Fixed costs refer to the expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.

Normal Rates

The usual or average rates for something within a particular context, such as interest rates or growth rates.