According to the Spotlight on Small Business Box, to Be

question 112

True/False

According to the Spotlight on Small Business box, to be a venture capitalist, a person needs to have years of expertise in the field of businesses they are funding.

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Definitions:

Market Wage

The prevailing wage rate in the labor market for a given type of work, determined by supply and demand for labor.

Labor Supply

The total hours that workers are willing and able to work at a given wage rate, within a specific economy or market.

Maximize Profits

The process of increasing the difference between total revenue and total cost to the highest possible level.

Productivity Increase

A rise in the output of goods and services produced per unit of input, often due to improvements in technology, processes, or efficiency.