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What is conscious capitalism? Describe the principles of a consciously capitalistic organization.
Fixed Budget
A budget that stays the same regardless of changes in activity levels, output, or sales.
Price Variance
The difference between the actual price paid for something and its standard or expected price.
Actual Price
The real price at which a transaction occurs, distinct from list or estimated prices, reflecting the amount paid or received in a transaction.
Standard Price
A predetermined cost attributed to materials, labor, and overhead to facilitate budgeting and variance analysis.
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