Examlex
In order for a solution to be basic:
Fixed Cost
Expenses that do not change with the level of production or sales over the short term, such as rent or salaries.
Model
A simplified representation, often mathematical, of a system or process used to analyze behavior, make predictions, or inform decision-making.
Waste Elimination
The process of identifying and removing unnecessary elements from processes or products to improve efficiency and reduce costs.
Variable Cost
Expenses that change in proportion to the activity of a business, such as costs for raw materials or production inputs.
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