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What is a business makes a profit when its costs of production are less than its what?
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When a firm's revenues rise more quickly than its costs?
Hopefully, the firm makes a profit.
What does the term Comparative Advantage mean in Commerce?
In trade and commerce, the marketplace allows producers to take advantage of their costs of production. Each business can specialize in the production of a product in which they have the opportunity to have a lower cost of production. With that comes the comparative advantage. This increases total production and makes the economy larger. With this all companies have the chance to benefit. The additional production generated by specialization is the gain from free trade.
What is gross production?
The rate at which an ecosystems producers covert solar energy into chemical energy (in the form of biomass). To Solve : GPP = NPP + R (R - Respiration)
What is the commercial sector?
a commercial sector is a business like a local cafe or restaurant that makes a profit. hope this helped!
Which contributes more to GDP the production of an economy car or the production of a luxury car?
Luxury car as the auto maker makes more profit on the expensive car, thus putting more back into the economy.
What is it called when a business makes money?
It's called a positive cash flow or profit.(Costs + Liabilities) - Sales = Profit/Deficit
What are fixed cost expenses?
Costs that need to be payed regardless of whether or not your business makes a sale/profit.
How does Sales and Production work together?
to make a profit for a business. as production makes the product and sales ( the answer is in the name) · Production first makes the product · Production then gives the product over to distribution · Distribution then sends the product over to sales · Sales then proceed to sell the product
What is optional features pricing?
Optional features pricing involves figuring out the costs of production so that a business can buy low and sell high for a profit. This is usually done in industries like cell phones and printers where the purchase costs are low, but they require accessories like ink cartridges and AC adapters, which makes them more expensive.
Why is cost important in business?
because the lower the cost the more profit the business makes profit = revenue - cost
How does piracy affect business?
it makes the legitimate business owner to make no profit and when the profit decline, workers loss their jobs
How much profit can be made off ads?
A lot of profit can be made from advertising. Google makes billions in the business.
When a firm's revenues rise more quickly than its costs?
Hopefully, the firm makes a profit.
What is capital profit?
An operating business may be able to invest its money which makes it as the profits back in the business.
Putting something back into the community from which the business makes profit is called?
Corporate Philanthropy
What makes people start a business?
The desire to earn profit, grow their money and investments are the causes of people to start a business.
What conditions are necessary for production of labor-intensive commodities?
Labor-intensive commodities, such as clothing, shoes, or other consumer goods, are produced in countries that have relatively low labor costs and relatively modern production facilities. China, Indonesia, and the Philippines are examples
