variable and fixed costs?

There are plenty of differences between 'fixed costs', and 'variable costs'. While variable costs are those that can be varied according to the changes taking place, fixed costs are those costs of investment goods that are used by the firm or company, with the idea that it would only be through wearing them out by way of the production of goods or by services for sale that they can eventually be recovered, in the long-term. (Fixed and variable costs: William-King) This means that the basic lesson for all entrepreneurs is that all entrepreneurs generally have some basic fixed costs that must be paid, no matter how many products they would be offering for sale, while at the same time, variable costs change according to the number of products that are being offered for sale. It is through a learned process of identification and control of their...
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