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There are generally three main types of profits: gross profit, operating profit, and net profit. Gross profit is the revenue remaining after subtracting the cost of goods sold. Operating profit, also known as operating income, is derived from gross profit minus operating expenses. Net profit is the final profit figure after all expenses, including taxes and interest, have been deducted from total revenue.
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Which statements is true about profits in a monopolistically competitive market?
many firms will earn profits in the short term, but they must constantly innovate and compete to earn profits in the long term
A rapid rise in profits relative to other types of income would affect?
Both the functional and personal distributions of income
Accounting profits are typically?
greater then economic profits,as accounting profits do not include implicit costs
How do you calculate economic profits?
Profits = revenues - expenses
Types of profits in the long run in oligopoly?
Supernormal profits due to high barriers to entry. Profits in the long run are determined by the barriers to entry. If there is high barriers to entry, new firms cannot enter the industry easily and hence cannot competed with existing firms for profits. Existing firms would be able to enjoy supernormal profits. On the contrary, weak barriers to entry means that the long run profits would be competed away by new firms entering the industry, hence firms would earn normal profits. Oligopoly market is characterised by high barriers to entry, largely due to non-price competition such as branding, advertising, etc. High barriers could also be due to economies of scale and high fixed cost.
What are the types of strategic analysis?
To maximise on profits and market gap
Which statements is true about profits in a monopolistically competitive market?
many firms will earn profits in the short term, but they must constantly innovate and compete to earn profits in the long term
What happened to the profits of many major corporation's during World War 1?
The profits were reduced due to people not spending as much
A rapid rise in profits relative to other types of income would affect?
Both the functional and personal distributions of income
who of these types of business organizations has only one owner who receives all profits and is responsible for all losses?
Sole proprietor
Are there different types of GAAP General accepted accounting principles?
GAAP is nothing but a set of principles followed by a company which helps it to manage effectively and compare the profits and losses of different accounting periods.there are many such principles.
What types of jobs are available in the Health and Human Services field?
Jobs in Health and Human Services include chemical dependency counselors, government employees, and social workers. Many jobs are also available with non-profits and churches.
Describe the four main types of profit making business enterprise?
The four types of profit making business enterprise are sole trader, partnership savings, company loans, and franchise profits. All of these types of enterprises contribute to the finances of businesses.
What are the different types of income that individuals can earn?
Individuals can earn different types of income, including wages from employment, profits from business activities, interest from savings or investments, and dividends from owning stocks or other investments.
Advantages of capital from profits?
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Which is gramatically correct bottom-line profits or bottom line profits?
Bottom-line profits
Accounting profits are typically?
greater then economic profits,as accounting profits do not include implicit costs
