Successful Entrepreneurs Come Up with Ideas and Then Find Ways

question 66

True/False

Successful entrepreneurs come up with ideas and then find ways to make them work to solve a problem or fill a need.

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Definitions:

Excise Taxes

Taxes imposed on specific goods, services, or activities, often used to discourage consumption of certain items or to raise revenue for targeted purposes.

Consumption Taxes

Taxes imposed on spending on goods and services, such as sales tax or Value Added Tax (VAT).

Average Tax Rate

The percentage of gross income that goes towards tax payments, determined by dividing the sum of taxes paid by the gross income.

Taxable Income

The amount of income used to calculate how much the government can tax an individual or a corporation.