Entrepreneurship II: Objective 2.01 Vocabulary Test

Expenses an organization incurs that are not directly tied to a specific function such as manufacturing, production or sales.

• Administrative Costs

• Sales and Marketing Costs

• Technology Costs

• Cost of Production

Advantages or payments employees receive in addition to their wages (e.g., sick time, holiday pay, health insurance).

• Start-Up Costs

• Benefits

• Sales and Marketing Costs

• Administrative Costs

The total amount of money spent on costs of materials, labor, taxes, etc., to manufacture economic goods and services.

• Cost of Production

• Technology Costs

• Start-Up Costs

• Administrative Costs

The amount of money a business has paid for the product (good or service) it has sold.

• Start-Up Costs

• Professional Fees

• Cost of Sales

• Cost of Production

The expenses involved with manufacturing, promoting, and distributing a product.

• Costs

• Administrative Costs

• Sales and Marketing Costs

• Start-Up Costs

Prices charged by individuals specially trained in specific fields of arts and sciences, such as doctors, architects, lawyers, and accountants.

• Technology Costs

• Administrative Costs

• Start-Up Costs

• Professional Fees

All reasonable costs and expenses (including labor) that are attributable to the distribution, sale, promotion and marketing of a Product (including all pre-launch activities), calculated on a fully burdened basis, including Allocable Overhead attributable thereto.

• Administrative Costs

• Cost of Sales

• Sales and Marketing Costs

• Cost of Production

All of the expenses involved in setting up a new business or introducing a new product to the market.

• Cost of Sales

• Administrative Costs

• Start-Up Costs

• Cost of Production

Expenses associated with acquisition or development, implementation, deployment, and maintenance of technology assets, including depreciation of R&D equipment and amortization of know how.

• Professional Fees

• Sales and Marketing Costs

• Administrative Costs

• Technology Costs

Money payments for labor on an hourly, daily, or weekly basis.

• Benefits

• Administrative Costs

• Wages

• Professional Fees