Intellectual Property Refers to Products That Result from Creative and Intellectual

question 105

True/False

Intellectual property refers to products that result from creative and intellectual effort, such as books, musical works, inventions, and computer software.

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Definitions:

Fixed Costs

Expenses that remain constant regardless of production or sales volume, including rent, salaries, and insurance costs.

Total Cost

The complete amount of money required to purchase, produce, execute, or maintain something, including all related expenses and charges.

Contribution Margin

The selling price per unit minus the variable cost per unit, reflecting the amount contributing to covering fixed costs.

Variable Cost

Costs that vary directly with the level of production or with the volume of services provided.