Examlex
Match the person or term with the with the correct description.
-Martin Van Buren
Fixed Costs
Fixed costs, which are unaffected by the volume of production or sales, encompassing charges like lease payments, employee salaries, and insurance fees.
Insurance
A financial product sold by insurance companies to safeguard against the risk of financial loss.
Variable Costs
Expenses that vary directly with the level of production or sales volume, such as materials and labor.
Labor
Human effort, whether physical or mental, contributed to the production of goods and services.
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