Entrepreneurship II: Objective 2.04 Vocabulary Test

The level of sales at which revenues equal total costs.

• Breakeven Point

• Selling Price

• Variable Costs

• Sales Revenues

Business costs that are not affected by changes in sales volume.

• Total Costs

• Semi-Variable Costs

• Variable Costs

• Fixed Costs

Monetary reward a business owner receives for taking the risk involved in investing in a business.

• Breakeven Point

• Sales Revenues

• Profit

• Selling Price

Money that comes in to a business from the sale of goods and services; also called income from sales.

• Sales Revenues

• Selling Price

• Profit

• Total Costs

The amount a seller charges the purchaser for a good or service.

• Total Costs

• Fixed Costs

• Variable Costs

• Selling Price

Business costs that vary to some extent in response to sales.

• Fixed Costs

• Semi-Variable Costs

• Variable Costs

• Variable-Cost Margin

All of a business’s costs, both fixed and variable.

• Semi-Variable Costs

• Total Costs

• Profit

• Breakeven Point

The amount of variable costs that apply to one unit; also called fixed-cost contribution.

• Variable-Cost Margin

• Semi-Variable Costs

• Selling Price

• Fixed Costs

Business costs that change according to changes in sales volume.

• Fixed Costs

• Semi-Variable Costs

• Variable-Cost Margin

• Variable Costs