Indicate Whether the Item Applies to Fixed Costs or Variable

question 11

Multiple Choice

Indicate whether the item applies to fixed costs or variable costs.

-employees' salaries

• A) fixed costs
• B) variable costs

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Definitions:

Process Innovation

The implementation of new or significantly improved production or delivery methods in a business.

Competitive Advantage

The attribute that allows an organization to outperform its competitors, leading to greater sales or margins and/or retaining more customers.

Keeping Customers

involves strategies and practices to retain customers, enhancing customer loyalty and preventing turnover.

Innovations

The process of translating an idea or invention into goods or services that create value or for which customers will pay.