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Briefly describe the process-oriented competitive strategies.
Fixed Costs
Expenses that do not change in proportion to the activity of a business, such as rent, salaries, and loan payments.
Variable Costs
Costs that vary directly with the level of production or sales, such as materials and labor.
Net Income
The amount of money left over after all expenses and taxes have been subtracted from total revenue.
Units
Units refer to the individual components or quantities of a product, investment, or other items that are counted or measured.
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