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Determine if each of the four processes below describes positive or negative changes to the internal energy of the system.
I. water absorbs heat from the surroundings and becomes steam
II. steam expands and pushes against the surrounding air
III. fuel molecules burn and heat the surroundings
IV. air is compressed into an inner tube by an external pump
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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