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Understanding Key Concepts: Prototype, Invention, Patent, Credit, Operating Cost, Fixed Cost, and Taxes

This PowerPoint presentation by Jamesha Woodruff explores essential vocabulary related to prototypes, inventions, patents, credit, operating costs, fixed costs, and taxes. Each term is defined thoroughly, providing both noun and verb forms where applicable, along with synonyms to enhance understanding. This resource is designed to assist students and professionals alike in mastering these key concepts that are vital in business, invention processes, and economic discussions. Engage with these terms to empower your knowledge in various professional fields.

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Understanding Key Concepts: Prototype, Invention, Patent, Credit, Operating Cost, Fixed Cost, and Taxes

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Presentation Transcript

  1. March 3-9 vocabulary Power pointby:jamesha woodruff

  2. Prototype: • pro·to·type • Noun: A first or preliminary model of something, esp. a machine, from which other forms are developed or copied. Verb: Make a prototype of (a product). Synonyms: archetype - protoplast

  3. Invention • in·ven·tion • Noun: The action of inventing something, typically a process or device. • Something, typically a process or device, that has been invented. • Synonyms: contrivance - fabrication - fiction - device - figment

  4. Patent • pat·ent • Noun: A government authority to an individual or organization conferring a right or title, esp. the sole right to make, use, or sell some... Adjective: Easily recognizable; obvious. Verb: Obtain a patent for (an invention). Synonyms: noun.  license - license

  5. Credit • cred·it • Noun: The ability to obtain goods or services before payment, based on the trust that payment will be made in the future: "unlimited credit". Verb: Publicly acknowledge someone as a participant in the production of (something published or broadcast). Synonyms: noun.  trust - faith - credence - honors - honor - beliefverb.  believe - accredit - trust

  6. Operating Cost • Operating costs can be described as the expenses which are related to the operation of a business, or to the operation of a device, component, piece of equipment or facility.

  7. Fixed cost • fixed costs are business expenses that are not dependent on the level of goods or services produced by the business.[1] They tend to be time-related, such as salaries or rents being paid per month, and are often referred to as overhead costs.

  8. Taxes • Taxes 3rd person singular present, plural of tax plural of tax·is • Noun: A compulsory contribution to state revenue, levied by the government on workers' income and business profits or added to the cost of... • The restoration of displaced bones or organs by manual pressure alone. • Verb: Impose a tax on (someone or something): "hardware and software is taxed at 7.5 percent".

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