The Element of a Business Model That Is Responsible for Making

question 66

Multiple Choice

The element of a business model that is responsible for making the model work is:

• A)the management team.
• B)the organizational structure.
• C)the firm's key competitive advantage.
• D)the market strategy.

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Definitions:

Sunk Cost

A cost that has already been incurred and cannot be recovered.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset up to a specific point in its life.

Total Cost Concept

An approach that considers all variable and fixed costs associated with the production of goods or services.

Manufacturing Cost

The total expense involved in the manufacturing of a product, including raw materials, labor, and overhead costs.