Trust Is Built Over a Short Period of Time

question 29

True/False

Trust is built over a short period of time.

---

Definitions:

Variable Costs

Expenses that change in proportion to the activity of a business, such as costs for raw materials and labor.

Fixed Costs

Expenses that remain constant regardless of the amount of production or output, like lease payments or wages.

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance, which are incurred regardless of the amount of goods or services produced.

Economic Profit

Profit that accounts for both explicit costs and opportunity costs.